Fund veteran Arnold B. Phillips had been serving as interim head since May 2018.
Consultant’s ‘Less Optimistic’ View of Equities Leads Massachusetts to Consider Portfolio Re-Allocation
Deal aims to aid California county’s fixed income investments and help local businesses with government lenders.
Consultant Wilshire Associates also gives overall CalPERS leadership a C grade.
Report touts benefits of incorporating ethical investing into fixed income.
Fixed income Investors need to be mindful of different market dynamics this time around.
Fixed-income allocation increases to 28% in new portfolio.
Board members float four possible paths to change portfolio structure; employers worried about higher pension payments.
Proposed changes would maintain the portfolio's heavy tilt to global equities, while likely increasing investments in fixed-income.