CalPERS’ July 1 shift to a Total Portfolio Approach is arriving with stronger performance, a still-underfunded balance sheet and a large private-market commitment load.The US$650 billion fund returned 11.6% in FY2025 and lifted its funded ratio to 79%, giving management better recent numbers after years of pressure. The new model...
CalPERS’ July 1 shift to a Total Portfolio Approach is arriving with stronger performance, a still-underfunded balance sheet and a large private-market commitment load.The US$650 billion fund returned 11.6% in FY2025 and lifted its funded ratio to 79%, giving management better recent numbers after years of pressure. The new model...