"As the steward of the largest pool of investment capital in the U.S., Joe Dear has the clout to shape how the asset management industry adapts to a volatile, post-crash global market." He is racing to rebuild an institution that lost $70 billion in the credit wipeout of 2008 and 2009. Rather than rely on safe bets such as U.S. Treasury bonds, Dear is embracing investments in private equity, emerging nations, hedge funds, and public works projects in his pursuit of market-beating profits. He’s even going a step further by asking CalPERS Board to adopt a strategy that could lead to trading exchange-traded funds and derivatives on a greater scale than it does now.
Read the full article from Bloomberg Market (PDF, 658 KB).
CalPERS is working hard to ensure the retirement and health security of our members, provide help to our employers, and manage our investments to meet our long-term liabilities. We hope this information provides education, insight, and clarity.
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