CalPERS, the country's largest pension fund reported investment performance for its most recent fiscal year today. Below are the numbers, which are less than stellar. Since June 2011, CalPERS' investment portfolio returned 1% vs a 7.5% target. Returns relative to the portfolio's benchmark for 2012 are below:
Given the size of the portfolio that CalPERS is managing, perhaps it's somewhat excusable that the fund earned a 7.73% return per year over the last 20 years. Still, the fund has returned less than its benchmark (however that's defined) over the 1, 3, 5, 10, 15 and 20 year time period.
No comments:
Post a Comment
For compliance reasons, I don't post comments to the site, but I do like hearing from readers and am happy to answer any questions. Feel free to use the comment box to get in touch. Please leave an email address in your comment so that I can write back, or email me directly at Skrisiloff@avondaleam.com.