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CalPERS reports double-digit gains in 2010

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The California Public Employees’ Retirement System (CalPERS) posted 12.5% net returns on investments for the 2010 calendar year, reaching $225.7 billion in assets according to the group.

Private equity was the biggest winner of 2010. The Alternative Investment Management (AIM) Program made a 21.5% overall return, a figure that easily topped its benchmark by more than 7 percentage points.

Joseph Dear, CalPERS Chief Investment Officer explained, "The strong returns we saw in 2010 prove that our comprehensive evaluation of all our investments is paying off for our members, employers and taxpayers."

CalPERS was overhauling its investment program - in part due to disappointing returns in several asset classes, including real estate.

"During 2010, we reduced portfolio leverage and ended relationships with several real estate partners who didn't meet our expectations," Dear said in a statement. "Our current focus is on income-generating properties, and now that we're beginning to see signs of a rebound in the market we'll be ready to take advantage of opportunities as they arise."

 

 

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