Monday, 30 March 2015
Last updated 8 hours ago
Sep 30 2011 | 10:47am ET
The nation's largest public pension fund is having trouble hitting its return target—and it's looking to alternative investments to help close the gap.
Joseph Dear, the chief investment officer of the California Public Employees' Retirement System, told The Wall Street Journal that "it may be hard to hit" its 7.75% return target in the "short term," due to the "low return environment with a lot of downside risk."
But unlike some of its public pension peers, CalPERS isn't going to lower that target. And it plans to rely more heavily on hedge funds and other alternative investments to boost returns hurt by stock market losses and low fixed-income returns.
Despite the short-term difficulties, Dear said that CalPERS is confident over the long run. "Over a 20-year time frame, a 7.75% investment return objective is obtainable."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…