CalPERS
United States
The California Public Employees’ Retirement System (CalPERS or the System) is the nation’s largest defined benefit public pension fund. 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.
Fund Results
CalPERS
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Overall | 87 | 3 | 77 | 12 | 63 | 32 | 74 | 14 | 56 | 45 | 42 | 64 | 49 | 54 | 47 | 57 | 47 | 57 | 81 | 7 | 82 | 6 | 83 | 4 | 88 | 2 | 81 | 7 | 74 | 14 | 52 | 50 | 51 | 52 | 57 | 43 | 58 | 40 | 53 | 48 | 52 | 50 | 39 | 68 | 49 | 54 | 43 | 61 | 66 | 29 | 67 | 27 | 61 | 38 | 57 | 43 | 54 | 47 | 64 | 31 | 63 | 32 | 63 | 32 | 58 | 40 | 46 | 60 | 66 | 29 | 38 | 69 | 35 | 72 | 40 | 65 | 51 | 52 | 35 | 72 | 40 | 65 | 37 | 71 | 25 | 74 | 11 | 75 | 73 | 16 | 77 | 12 | 81 | 7 | 72 | 18 | 73 | 16 | 89 | 1 | 55 | 46 | 70 | 23 | 43 | 61 | 40 | 65 | 47 | 57 | 43 | 61 | 58 | 40 | 63 | 32 | 63 | 32 | 78 | 10 | 67 | 27 | 72 | 18 | 69 | 24 | 72 | 18 | 69 | 24 | 78 | 10 | 59 | 39 | 63 | 32 | 53 | 48 | 68 | 26 | 83 | 4 | 72 | 18 | 48 | 56 | 38 | 69 | 71 | 22 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost | 69 | 11 | 67 | 15 | 55 | 34 | 69 | 11 | 58 | 26 | 45 | 47 | 58 | 26 | 55 | 34 | 45 | 47 | 64 | 17 | 69 | 11 | 65 | 16 | 90 | 3 | 68 | 14 | 73 | 9 | 57 | 30 | 54 | 38 | 60 | 22 | 55 | 34 | 56 | 33 | 53 | 40 | 45 | 47 | 59 | 24 | 55 | 34 | 57 | 30 | 37 | 59 | 34 | 61 | 24 | 67 | 41 | 54 | 23 | 68 | 39 | 58 | 26 | 65 | 26 | 65 | 14 | 73 | 50 | 42 | 37 | 59 | 30 | 62 | 29 | 63 | 54 | 38 | 7 | 75 | 15 | 71 | 20 | 69 | 18 | 70 | 13 | 74 | 73 | 9 | 76 | 7 | 93 | 1 | 76 | 7 | 81 | 4 | 91 | 2 | 15 | 71 | 51 | 41 | 28 | 64 | 41 | 54 | 40 | 57 | 47 | 46 | 45 | 47 | 50 | 42 | 50 | 42 | 64 | 17 | 50 | 42 | 60 | 22 | 58 | 26 | 57 | 30 | 42 | 51 | 77 | 6 | 42 | 51 | 63 | 19 | 59 | 24 | 61 | 21 | 79 | 5 | 58 | 26 | 42 | 51 | 41 | 54 | 63 | 19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Governance | 100 | 1 | 95 | 7 | 90 | 14 | 92 | 12 | 64 | 50 | 42 | 68 | 63 | 53 | 61 | 55 | 72 | 39 | 95 | 7 | 97 | 4 | 100 | 1 | 100 | 1 | 96 | 5 | 84 | 23 | 47 | 66 | 54 | 62 | 64 | 50 | 53 | 63 | 69 | 44 | 68 | 45 | 57 | 59 | 71 | 42 | 57 | 59 | 94 | 10 | 95 | 7 | 72 | 39 | 82 | 26 | 71 | 42 | 82 | 26 | 74 | 36 | 87 | 21 | 77 | 32 | 58 | 58 | 64 | 50 | 39 | 70 | 41 | 69 | 50 | 65 | 53 | 63 | 37 | 72 | 73 | 37 | 62 | 54 | 43 | 67 | 11 | 75 | 72 | 39 | 75 | 35 | 77 | 32 | 67 | 47 | 76 | 34 | 89 | 16 | 83 | 25 | 81 | 28 | 65 | 49 | 39 | 70 | 59 | 57 | 66 | 48 | 84 | 23 | 80 | 29 | 89 | 16 | 88 | 18 | 79 | 30 | 92 | 12 | 90 | 14 | 88 | 18 | 96 | 5 | 88 | 18 | 73 | 37 | 79 | 30 | 60 | 56 | 56 | 61 | 93 | 11 | 68 | 45 | 30 | 74 | 34 | 73 | 87 | 21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance | 90 | 5 | 65 | 32 | 64 | 36 | 84 | 13 | 62 | 38 | 43 | 66 | 66 | 30 | 63 | 37 | 61 | 42 | 88 | 9 | 90 | 5 | 92 | 4 | 89 | 8 | 85 | 11 | 77 | 19 | 52 | 55 | 49 | 60 | 69 | 26 | 60 | 45 | 49 | 60 | 59 | 51 | 39 | 69 | 49 | 60 | 53 | 54 | 42 | 67 | 61 | 42 | 68 | 27 | 60 | 45 | 41 | 68 | 65 | 32 | 67 | 29 | 62 | 38 | 60 | 45 | 61 | 42 | 85 | 11 | 51 | 56 | 51 | 56 | 72 | 23 | 75 | 21 | 24 | 74 | 39 | 69 | 49 | 60 | 25 | 73 | 21 | 75 | 60 | 45 | 68 | 27 | 75 | 21 | 66 | 30 | 62 | 38 | 95 | 1 | 48 | 64 | 94 | 2 | 33 | 72 | 38 | 71 | 45 | 65 | 60 | 45 | 59 | 51 | 76 | 20 | 82 | 16 | 82 | 16 | 60 | 45 | 65 | 32 | 62 | 38 | 71 | 24 | 65 | 32 | 70 | 25 | 59 | 51 | 51 | 56 | 51 | 56 | 83 | 14 | 93 | 3 | 90 | 5 | 87 | 10 | 80 | 18 | 83 | 14 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Responsible Investment | 85 | 11 | 78 | 27 | 53 | 47 | 61 | 41 | 46 | 51 | 45 | 52 | 15 | 69 | 15 | 69 | 17 | 67 | 87 | 8 | 81 | 22 | 88 | 7 | 84 | 14 | 84 | 14 | 72 | 35 | 59 | 43 | 54 | 45 | 42 | 55 | 73 | 32 | 44 | 53 | 34 | 59 | 19 | 66 | 22 | 63 | 11 | 72 | 80 | 25 | 84 | 14 | 77 | 29 | 71 | 36 | 70 | 37 | 93 | 3 | 81 | 22 | 85 | 11 | 78 | 27 | 57 | 44 | 73 | 32 | 32 | 60 | 22 | 63 | 12 | 71 | 29 | 61 | 77 | 29 | 39 | 56 | 22 | 63 | 17 | 67 | 3 | 73 | 94 | 1 | 87 | 8 | 89 | 5 | 89 | 5 | 84 | 14 | 94 | 1 | 84 | 14 | 65 | 40 | 53 | 47 | 48 | 50 | 37 | 57 | 3 | 73 | 54 | 45 | 44 | 53 | 28 | 62 | 90 | 4 | 87 | 8 | 82 | 20 | 73 | 32 | 80 | 25 | 84 | 14 | 85 | 11 | 70 | 37 | 67 | 39 | 51 | 49 | 81 | 22 | 77 | 29 | 82 | 20 | 37 | 57 | 0 | 75 | 61 | 41 |
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Fund Insights
Culture Club: CalPERS puts people first in talent reboot under new CIO
Only two months in and CalPERS' new CIO Stephen Gilmore has already made his mark, with plans to overhaul talent and culture in the investment office, meeting frequency and the number of strategic initiatives slashed and an increased focus on data and technology to improve efficiency and reduce risk.
The trait that will define ‘the California model’, according to CalPERS
Allocation to climate solutions and the ability to generate alpha from that across asset classes are what will define the future “California model”, according to CalPERS managing director of sustainable investment, Peter Cashion.
Tip of the A-iceberg as investors grapple with the scale of opportunity
An investment theme that incorporates all traditional businesses trying to exploit technology, including AI, is simply too broad. Focusing on AI alone leaves investors exposed to the uncertainty of future developments. In between is an approach that recognises AI as an accelerant to existing trends.
CalPERS’ plan to generate alpha from climate investments
CalPERS’ sustainable investment strategy is predicated on a belief it can generate outperformance by investing in climate solutions – with $100 billion to be allocated by 2030. Peter Cashion, managing investment director for sustainable investments tells Amanda White why, and how, it looks for climate alpha opportunities.