Tough Year for CalPERS
The California Public Employees’ Retirement System (CalPERS) announced a preliminary net return of 0.61% for the fiscal year ended June 30, 2016, inferior compared to last year’s return of 2.4%. This is CalPERS worst performance since 2012. Similar to 2015, listed equities and private equity were asset classes that dragged performance, while infrastructure and fixed income generated positive returns. The top performing asset class was fixed income, which pays less in investment management fees compared to real assets and private equity, inked a 9.29% return. Infrastructure for CalPERS generated a 8.98% return, while real estate posted a 7.06% return.
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