Calpers Earns 0.6% as Long-Term Returns Trail Fund’s Target
- Stocks dropped 3.4% while forestland assets lost 9.6%
- Pension’s investment gains average 5.1% over 10 years
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The California Public Employees’ Retirement System, the largest U.S. public pension fund, earned a return of 0.6 percent on its investments last fiscal year, trailing its long-term target as holdings in stocks and forestland lost money.
The pension’s public equity portfolio lost 3.4 percent in the year through June 30 and forestland assets declined 9.6 percent, Chief Investment Officer Ted Eliopoulos said Monday. Fixed-income holdings rose 9.3 percent and infrastructure investments gained 9 percent.