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CalPERS Reports Preliminary 11.2% Return For FY 2016-17

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The California Public Employees’ Retirement System (CalPERS) reported a preliminary annual return of 11.2% for its latest fiscal year ended June 30, 2017. CalPERS beat last fiscal year’s return of 0.61%. Listed equities for the latest reported fiscal year reported a return of 19.7%, an asset class that benefited from the late 2016 rally. In comparison to public stocks, the fee-intensive asset classes of private equity generated a 13.9% return, while real estate made a 7.6% net return.

“I am proud of our investment team for achieving double digit returns this year,” said Ted Eliopoulos, CalPERS chief investment officer in a press release. “Our globally diversified portfolio performed well across most asset classes, and we were able to take advantage of what the market gave us. However, I want to emphasize that as pleased as we are with this one-year return, our focus is always on the long-term. We invest for decades, not years.”

Based on a 7% discount rate, the positive performance pushed CalPERS funded status from 65% to 68%.

Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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