CalPERS
United States
CalPERS is the largest defined benefit pension plan in the US and provides retirement benefits to certain public employees of the state of California. Headquartered in Sacramento, CalPERS provides retirement benefit services to nearly 2.1 million members and health benefit services to over 1.5 million covered lives for state, school, and public employers. It has assets of $439 billion.
Fund Results
CalPERS
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Overall | 73 | 7 | 70 | 12 | 62 | 32 | 49 | 49 | 56 | 39 | 37 | 61 | 44 | 54 | 34 | 66 | 30 | 70 | 73 | 7 | 75 | 2 | 71 | 10 | 81 | 1 | 74 | 4 | 68 | 16 | 44 | 54 | 53 | 44 | 57 | 38 | 44 | 54 | 54 | 40 | 44 | 54 | 34 | 66 | 47 | 52 | 44 | 54 | 65 | 23 | 62 | 32 | 67 | 17 | 53 | 44 | 52 | 48 | 65 | 23 | 64 | 27 | 63 | 30 | 54 | 40 | 31 | 68 | 62 | 32 | 35 | 62 | 47 | 52 | 28 | 71 | 23 | 74 | 26 | 72 | 35 | 62 | 31 | 68 | 24 | 73 | 15 | 75 | 69 | 15 | 74 | 4 | 70 | 12 | 65 | 23 | 67 | 17 | 75 | 2 | 54 | 40 | 64 | 27 | 39 | 60 | 40 | 59 | 54 | 40 | 53 | 44 | 58 | 36 | 64 | 27 | 49 | 49 | 74 | 4 | 67 | 17 | 71 | 10 | 62 | 32 | 66 | 21 | 65 | 23 | 70 | 12 | 53 | 44 | 58 | 36 | 48 | 51 | 63 | 30 | 72 | 9 | 67 | 17 | 35 | 62 | 35 | 62 | 66 | 21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 65 | 14 | 60 | 19 | 55 | 29 | 31 | 58 | 54 | 34 | 40 | 50 | 58 | 23 | 53 | 36 | 40 | 50 | 49 | 40 | 63 | 16 | 59 | 21 | 81 | 2 | 70 | 11 | 73 | 8 | 57 | 26 | 79 | 3 | 58 | 23 | 57 | 26 | 59 | 21 | 55 | 29 | 47 | 43 | 63 | 16 | 55 | 29 | 56 | 28 | 40 | 50 | 65 | 14 | 20 | 68 | 45 | 44 | 24 | 65 | 43 | 48 | 26 | 63 | 21 | 67 | 22 | 66 | 54 | 34 | 31 | 58 | 40 | 50 | 26 | 63 | 28 | 62 | 7 | 73 | 9 | 72 | 14 | 70 | 13 | 71 | 6 | 74 | 73 | 8 | 75 | 6 | 89 | 1 | 71 | 10 | 76 | 5 | 78 | 4 | 19 | 69 | 48 | 42 | 29 | 61 | 45 | 44 | 36 | 55 | 44 | 47 | 41 | 49 | 51 | 39 | 39 | 54 | 61 | 18 | 49 | 40 | 66 | 13 | 35 | 56 | 58 | 23 | 45 | 44 | 74 | 7 | 32 | 57 | 60 | 19 | 53 | 36 | 55 | 29 | 68 | 12 | 55 | 29 | 4 | 75 | 31 | 58 | 52 | 38 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Governance | 83 | 15 | 95 | 2 | 90 | 8 | 80 | 21 | 60 | 46 | 45 | 65 | 59 | 49 | 52 | 55 | 40 | 67 | 92 | 6 | 94 | 4 | 95 | 2 | 97 | 1 | 92 | 6 | 82 | 18 | 30 | 73 | 48 | 61 | 66 | 43 | 46 | 63 | 69 | 38 | 60 | 46 | 46 | 63 | 72 | 32 | 53 | 54 | 93 | 5 | 86 | 13 | 75 | 28 | 70 | 36 | 69 | 38 | 87 | 10 | 67 | 42 | 87 | 10 | 75 | 28 | 49 | 59 | 51 | 56 | 39 | 68 | 63 | 45 | 43 | 66 | 32 | 72 | 12 | 74 | 70 | 36 | 50 | 57 | 34 | 71 | 6 | 75 | 66 | 43 | 73 | 31 | 54 | 53 | 60 | 46 | 78 | 25 | 71 | 33 | 79 | 24 | 83 | 15 | 57 | 50 | 35 | 69 | 49 | 59 | 55 | 52 | 84 | 14 | 78 | 25 | 75 | 28 | 80 | 21 | 81 | 19 | 87 | 10 | 80 | 21 | 77 | 27 | 90 | 8 | 81 | 19 | 71 | 33 | 68 | 40 | 57 | 50 | 50 | 57 | 71 | 33 | 68 | 40 | 35 | 69 | 48 | 61 | 83 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance | 76 | 14 | 69 | 26 | 60 | 42 | 73 | 18 | 69 | 26 | 27 | 75 | 49 | 61 | 29 | 74 | 43 | 68 | 82 | 8 | 80 | 10 | 68 | 29 | 87 | 4 | 87 | 4 | 73 | 18 | 45 | 65 | 52 | 55 | 77 | 13 | 57 | 49 | 63 | 37 | 55 | 51 | 36 | 71 | 51 | 58 | 69 | 26 | 46 | 64 | 61 | 39 | 70 | 23 | 64 | 36 | 38 | 70 | 70 | 23 | 70 | 23 | 65 | 35 | 61 | 39 | 45 | 65 | 83 | 6 | 45 | 65 | 74 | 17 | 41 | 69 | 35 | 72 | 49 | 61 | 53 | 54 | 59 | 43 | 52 | 55 | 50 | 59 | 61 | 39 | 73 | 18 | 67 | 30 | 63 | 37 | 59 | 43 | 82 | 8 | 50 | 59 | 76 | 14 | 34 | 73 | 48 | 63 | 59 | 43 | 55 | 51 | 59 | 43 | 79 | 11 | 58 | 48 | 75 | 16 | 67 | 30 | 67 | 30 | 72 | 21 | 72 | 21 | 59 | 43 | 66 | 33 | 52 | 55 | 54 | 53 | 57 | 49 | 83 | 6 | 94 | 1 | 89 | 2 | 88 | 3 | 66 | 33 | 79 | 11 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Responsible Investment | 78 | 10 | 67 | 25 | 50 | 42 | 20 | 55 | 46 | 44 | 42 | 47 | 15 | 61 | 8 | 66 | 3 | 71 | 77 | 11 | 73 | 17 | 72 | 18 | 71 | 19 | 59 | 38 | 55 | 41 | 48 | 43 | 42 | 47 | 36 | 52 | 20 | 55 | 20 | 55 | 11 | 64 | 9 | 65 | 8 | 66 | 5 | 69 | 74 | 16 | 71 | 19 | 68 | 24 | 65 | 30 | 65 | 30 | 88 | 1 | 83 | 3 | 83 | 3 | 67 | 25 | 14 | 62 | 67 | 25 | 28 | 54 | 18 | 58 | 4 | 70 | 0 | 72 | 39 | 50 | 14 | 62 | 6 | 68 | 0 | 72 | 0 | 72 | 83 | 3 | 83 | 3 | 81 | 7 | 76 | 12 | 62 | 36 | 79 | 9 | 76 | 12 | 58 | 39 | 43 | 46 | 38 | 51 | 67 | 25 | 65 | 30 | 44 | 45 | 42 | 47 | 17 | 60 | 88 | 1 | 81 | 7 | 76 | 12 | 70 | 22 | 67 | 25 | 75 | 15 | 70 | 22 | 64 | 34 | 58 | 39 | 33 | 53 | 71 | 19 | 65 | 30 | 63 | 35 | 18 | 58 | 0 | 72 | 60 | 37 |
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Fund Insights
CalPERS next CIO: 55 applications so far and counting
The numbers behind CalPERS hunt for a new CIO: 55 applicants so far; a $300,000 budget to secure a candidate; and a process of candidates submitting to 40-odd checks including credit checks and social media history.
Asset owners need organisational prowess to take advantage of distress
The market has already entered the early stages of a multi-year restructuring cycle that will present many opportunities for credit providers. Researchers and investors from GIC, CalPERS and IMCO recommend some organisational changes that will ensure asset owners can make the most of those opportunities.
CalPERS reviews factor allocation
As CalPERS navigates more change at the top following Nicole Musicco decision to leave, the investment committee ploughs on with an annual review of the public equity portfolio where discussions focus on the factor weighted strategy and engagement on executive pay.
GPTB 2023: The funds that excelled
The highest scoring funds overall in the 2023 Global Pension Transparency Benchmark were also among the biggest improvers. Both Norway’s Government Pension Fund Global and AustralianSuper increased their scores by 14 points and were the biggest improvers in the top 10. Others included CDPQ, CalPERS, and PFZW.