CalPERS' Very Good Year: Up 11.4 % Over Last Year
CalPERS has just announced a fiscal year gain of 11.4 percent, exceeding its "long-term annualized earnings target of 7.75 percent" which CalPERS says it has enjoyed over the last 20 years. More from the announcement: “The positive returns over the last year are due to many factors, including the stabilization in the financial industry and the increase in market liquidity,” said Joe Dear, CalPERS Chief Investment Officer. “Many asset classes have exhibited strength amid signs of stabilization and recovery in the economy.” As of June 30, 2010, the market value of assets stood at $200 billion. With the exception of real estate, all of the asset classes had positive returns for the year,” Dear said. “We’re definitely in the recovery mode with the opportunity to capture future returns because of
