CalPERS Defeats Custom Benchmark With 16.19 Percent Return
The California Public Employees’ Retirement System (CalPERS) issued a performance summary boasting 16.19% gain on their fund as of December 31, 2013, defeating their benchmark index by 137 basis points (bps). In the first half of 2013, the pension giant eclipsed its pre-recession high.
According to the report, CalPERS’ public equity return was a big winner, posting a 25.61% gain. Although the public equity strategy underperformed the S&P 500 by about 4.00%, it still bested the retirement fund’s custom benchmark by 88 basis points.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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