The California Public Employees’ Retirement System (CalPERS) posted a 14.8% return for its latest fiscal year, fueled by a stock market rally and strong private equity performance that pushed assets to a record $637.1 billion and improved its funded status to 85%.
"An 85% funded level is great compared to where we started, but we’re not quite there yet.
It’s not full funding.
Building the health of the fund remains job number one," CalPERS Chief Executive Officer Marcie Frost told the pension system’s board during a meeting on July 13, Bloomberg reported.
In the fund, public equity saw the greatest return with 24.1%, followed by private equity with 17%, private debt with 11%, real assets with 6.3%, and fixed income with 5.9%.
