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CalPERS earns 12.5% on investments over the past year

CalPERS posted a 12.5% return on its investments in the year that ended June 30, officials said Monday. Above, Chief Investment Officer Joseph Dear at a CalPERS board meeting in 2009.
(Robert Durell / For The Times)
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The nation’s largest public pension fund, the California Public Employees’ Retirement System, posted a 12.5% return on its investment portfolio in the fiscal year that ended June 30.

The fund’s assets stand at nearly $258 billion, according to Chief Investment Officer Joseph Dear, who reviewed the figures Monday at a meeting of the system’s governing board.

The gains were led by strong returns in the global public equity and real estate investments, officials announced Monday.

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Investments in publicly traded equity holdings yielded a 19% return. The value of its real estate holdings rose 11.2%.

Some parts of CalPERS’ investment portfolio did not fare as well. It lost 1.6% on its fixed income holdings.

“CalPERS is a long-term investor and we try to not focus too much on one year of performance,” said Henry Jones, chair of CalPERS Investment Committee. “But obviously 12.5% is a great number and we’re pleased with the performance.”

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CalPERS’ investment results have been volatile in the past five years. The system’s holdings lost 23% in 2009, but gained almost 21% in 2011. Last year, its investment returns were only 1%.

CalPERS administers retirement benefits for more than 1.6 million current and retired California public employees.

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ricardo.lopez@latimes.com

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