The California Public Employees’ Retirement System (CalPERS) says it will increase the amount it invests with firms specializing in corporate governance to as much as $5 billion as it increases the portfolio allocation by 14% from its current $4.4 billion. The nation’s largest public pension fund, with some $210 billion in assets, claims that the 10 corporate governance firms it has been using posted annual returns of 17.7% from 1999 through March 31, 2006, and that two of those firms, Relational Investors LLC and Knight Vinke Asset Management LLC, have posted 31% gains.
CalPERS To Sink Another $5 Billion Into Corporate Governance Strategies
The California Public Employees' Retirement System (CalPERS) says it will increase the amount it invests with firms specializing in corporate governance to as much as $5 billion as it increases the portfolio allocation by 14% from its current $4.4 billion.