CalPERS sees 12% return on PE investments in 2012

The disappointing PE performance contributed to a lower overall return for the $252 billion pension fund to 13.26%, below a 14.43% benchmark, CIO Joseph Dear said at a meeting of the fund's board. During the same period, its public equity investments generated a 17.2% return while real assets gained 12.8%.

For the current fiscal year to date, CalPERS has recorded a 7.09% return. The pension fund is obliged to have a target of an annual return of at least 7.5%.

The CalPERS board announced that it has unanimously re-elected Rob Feckner as president and George Diehr as vice president. Feckner will be serving his ninth term as president, and Diehr will be in his sixth vice presidential term.

"My colleagues have shown tremendous trust in me to guide CalPERS and I appreciate their faith in my leadership," Feckner in a statement. "As we emerge from this recession, I am positive we will continue on the path of improved transparency, accountability and ethics that enhance our ability to provide retirement and health security to the public employees who serve our state."

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• Topics
• North America
• LPs
• Performance
• California Public Employees' Retirement System (CalPERS)
• Appointments