CalPERS announces investment performance results.SACRAMENTO, Calif.--(BUSINESS WIRE)--Jan. 19, 1996--The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees Retirement System (CalPERS) reported today an estimated 1995 investment fund performance rate of 23.7 percent, ending the year on Dec. 31, 1995, with an approximate portfolio value of $96.7 billion. This favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. performance is attributable to the CalPERS Board of Administration's adoption of a strategic asset allocation Strategic Asset Allocation A portfolio strategy that involves periodically rebalancing the portfolio in order to maintain a long-term goal for asset allocation. Notes: At the inception of the portfolio, a "base policy mix" is established based on expected returns. policy and the strong performance of the domestic financial markets. The asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. policy was adopted by the CalPERS Board in December of 1994 and increased the equity exposure of the fund. This shift allocated more assets to higher returning investments, adding to the high performance results. In addition, the CalPERS Board of Administration accepted Wilshire Associates quarterly report for the quarter ended Sept. 30, 1995. Performance results in the report compared CalPERS to other public pension funds as measured by the Trust Universe Comparison Service (TUCS TUCS Turku Centre for Computer Science (Finland) TUCS Trust Universe Comparison Service (investing) TUCS Triplicane Urban Cooperative Society (India) ). The results indicated that CalPERS outperformed other funds by 58 percent over a one-year period, and significantly outperformed other funds over a five- and ten-year period by 63 percent and 75 percent, respectively. In other business, the board re-elected Dr. William D. Crist as president and Charles P. Valdes as vice president. Crist was first elected to the CalPERS board in 1987 and has served as president since January of 1992. He is a professor of economics at California State University, Stanislaus California State University, Stanislaus, a campus in the California State University system, was established in 1957 in Turlock, California. CSU Stanislaus has nursing and education programs. . Valdes was first elected in 1985 and has served as vice president since January of 1989. He serves as counsel for the Department of Transportation. CONTACT: CalPERS Brad Pacheco, Pat Macht, 916/326-3991 |
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