PRINT THIS PAGE CalPERS portfolio reaches record market value of $189.8bn26/07/2005. Source: AltAssets. 
 The California Public Employees' Retirement System recorded a 12.7 per cent investment return for the one-year period ended 30 June 30 2005, raising its portfolio's market value to a record $189.8bn. The giant pension fund said private equity, real estate and international stocks were the main performance drivers during the year.
CalPERS Alternative Investment Management Program, which specialises in private equity and venture capital holdings, generated the second highest rate - after real estate - of return of 22.8 per cent, exceeding its benchmark of 14.2 per cent.
Mark Anson, chief investment officer for CalPERS, said, 'We exceeded industry benchmarks in three out of five major asset classes, and added $23.5bn to the fund. Nearly $2.5bn of that amount was generated by our investment staff's value added decisions, taking advantage of unique market opportunities that presented themselves during the year.'
Charles P Valdes, chair of CalPERS Investment Committee, added, 'These results validate that our staff is doing an excellent job in managing our investments, and at a very low cost. Every dollar saved to operate our investment programme is one dollar less that our employers, members, and taxpayers have to pay.'
At the end of the fiscal year, 68 per cent of the CalPERS portfolio was invested in public and private equity, 26 per cent in bonds and other fixed income, and six per cent in real estate.
CalPERS provides retirement and health benefits to more than 1.4 million state and local public employees and their families.
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