The California Public Employees’ Retirement System, the largest U.S. pension fund, earned 20.7 percent in the 12 months ended June 30, its best result in 14 years, led by gains in stocks and private equity, according to Bloomberg;s best.
Shares held by the $237.5 billion plan, known as Calpers, returned 30.2 percent in the year that ended June 30, fund administrators said today. Fixed-income investments rose 7 percent. Real estate and private equity, which are both delayed by three months, earned 10.2 percent and 25.3 percent through March, respectively.
The results may help Calpers parry concerns that it relies on overly optimistic assumptions for its return on assets that hide the true size of its deficits. The fund lost almost a quarter of its value in 2009 as the global recession dragged down stock prices and real estate values….
Find out more at http://www.bloomberg.com/news/2011-07-18/calpers-posts-its-best-annual-gain-in-14-years-on-stocks-private-equity.html
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