California Public Employee Pension Earns 1% on Investments
This article is for subscribers only.
The California Public Employees’ Retirement System earned 1 percent in the past fiscal year as slumping global stock prices dragged down the largest U.S. pension.
The fund lost 7.2 percent on shares, while private equity gained 5.4 percent. Calpers’ bonds rose about 13 percent and its real estate holdings climbed 16 percent. Calpers, as the fund is known, ended fiscal 2012 with $233 billion in assets, according to a statement today. Half of its holdings are in stocks.