Calpers Earns 12.5% as Stocks Buoy Pension Fund’s Returns
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The California Public Employees’ Retirement System, the largest U.S. pension, had a 12.5 percent gain on investments for the fiscal year ended June 30 as global stock indexes rose to records.
Known as Calpers, the $262 billion fund earned 19 percent on its publicly traded equity holdings, according to Chief Investment Officer Joe Dear. He reviewed the figures today at a meeting of the system’s governing board in Petaluma, California.