Thursday, 21 August 2014
Last updated 14 hours ago
Mar 15 2007 | 11:31am ET
The California Public Employees’ Retirement System again enjoyed double-digit returns last year, and it has private equity to thank.
The largest pension fund in the U.S. earned 15.4% in 2006 before fees. Its alternative investment management program, which houses its private equity and venture capital investments, was a big part of it, returning 20.9% last year. Its benchmark rose 17.7%.
"We had a very strong fourth quarter of 2006, with an overall portfolio gain of 6% for just those three months," said Charles Valdes, chair of the $230 billion fund's investment committee.
Real estate was also a major piece of CalPERS’ winning puzzle for the year, as it rose 27.6%, compared to 17.6% for its benchmark.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note