Sunday, 4 October 2015
Last updated 1 day ago
Jan 26 2012 | 1:19am ET
The California Public Employees’ Retirement System managed to make money last year—no thanks to its hedge fund investments.
The nation’s largest public pension fund lost 2.29% on hedge funds, Joseph Dear, chief investment officer, told the CalPERS board. Despite the loss, CalPERS managed a 1.1% return for 2011, a year that saw the Standard & Poor’s 500 Index finish flat.
What positive return there was can be attributed to CalPERS’ other alternative investments. Its private equity portfolio was up 12.37% through the third quarter, and its real-estate portfolio returned 9.92%.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…