Calpers Says 7.75% Investment Return May Be Tough to Meet
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The California Public Employees’ Retirement System will be hard-pressed to return 7.75 percent this year as Europe’s debt crisis and the weak U.S. recovery continue to weigh on global stocks, its investment chief said.
“That’s going to be tough this year and maybe for the next few years,” Calpers Chief Investment Officer Joe Dear said in a Bloomberg Television interview today. “This low-return environment is structurally driven, and there’s not a lot of policy to move it.”