The investment committee of CalPERS plans to make a decision on whether to retain Wilshire Associates as its general investment consultant and Meketa Investment Group as its private equity consultant, real estate consultant, and infrastructure consultant.
The changes will help improve diversification, enhance portfolio down-side protection and take advantage of the risk-return profile of private assets as outlined in the investor's "collaborative model" initiative.
"It was a roller coaster year and a very challenging environment in which to generate returns," said CalSTRS CIO Christopher Ailman. "Thanks to the in-house expertise of our investment team, we were able to come very close to our assumed rate of return despite the instability of the market."
Chris Ailman, CIO of the California State Teachers' Retirement System -- the second-largest pension fund in the US, with $228 billion under management -- warns that investors and companies are overlooking climate change.
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Ben Meng's plans to improve returns hinge on private equity. Unlike owning stocks and bonds, investing in private equity funds means holding illiquid stakes in companies that may take years to realize their value.
Medical artificial intelligence technology company MedWhat.com, Inc and its CEO Arturo Devesa, have filed a lawsuit for fraud in the Supreme Court of California in San Francisco against their investor Stanford Management Company (SMC).
The UC endowment grew 15.1 percent for the year ending June 30, 2017, outperforming its policy benchmark by 2.6 percent. Chief Investment Officer Jagdeep Singh Bachher, who joined UC in April 2014, said he is proud of what his team has achieved.
The University of California General Endowment Pool has increased its real assets target weighting by 2% and integrated real estate into the allocation.