June 23, 2011: Joseph Dear,
CEO of CalPERS and Assistant Secretary of Labor
at OSHA under Bill Clinton, showed this table today on CNBC. As of
April 2011, this is the
asset allocation for CALPERS
The California
Public Employees' Retirement System (CalPERS) provides
retirement and health benefit services to more than 1.6 million members
and more than 3,000 employers. Their membership consists of active,
inactive and retired members from the State, school districts and local
public agencies.
Picture of CNBC graphic by Kirk Lindstrom
using the cell phone camera in
a "MyTouch 4G" made by HTC.
Summary of CalPERS asset allocation:
Asset Class
|
Allocation %
|
Global Equity
|
53.4
|
Global Income
|
20.4
|
Private Equity
|
13.8
|
Real Estate
|
7.4
|
Inflation
|
3.4
|
Cash Equivalents
|
1.5
|
Target annual return for the CalPERS fund is 7.75%.
Joe says they probably can not meet this using US equities and fixed
income but he thinks they can do it if they invest globally.
- Q: What is
a proper fee to pay a hedge fund?
- A :
"Well, it is not two and twenty.
|
