US Edition
CalPERS Announces Estimated 11.6% Rate of Return for Retirement Fund
CALIFORNIA, USA, JUL 14 – CalPERS surpassed its 6.8% target with an 11.6% gain, improving its funded status to 79% after strategic shifts and tariff delays boosted investment returns.
- CalPERS reported an estimated 11.6% gain on its investments for the fiscal year 2024-2025, increasing the value of its managed assets to approximately $556.2 billion.
- This announcement follows CalPERS' rebound from its first net loss since 2009 and a fund value low of $508 billion three years ago amid the pandemic.
- CalPERS increased its funded status from 71% to 79%, supported by gains in private equity and a $100 million benefit from its stake in crypto company Circle.
- Chief Investment Officer Stephen Gilmore noted that although the market faced challenges in the early part of the year, the fund’s investment approach ultimately proved successful amid the volatile conditions.
- The improved returns suggest progress toward long-term sustainability, but CalPERS leaders note continued work is needed to strengthen retirement security amid evolving global markets.
13 Articles
13 Articles
CalPERS announces estimated 11.6% rate of return for retirement fund
The CalPERS building in Sacramento. (Photo courtesy of CalPERS) The California Public Employees’ Retirement System, CalPERS, announced a preliminary investment return of 11.6% for the 2024-2025 fiscal year. The system has not yet released the financial report for the fiscal year that ended June 30, but it did announce a preliminary net return rate. The 11.6% investment return would bring assets managed by the California Public Employees’ Retire…
How California pensioners pulled one over on Yale’s investors
The ScoopCalifornia retirees just picked the pocket of one of the smartest investors on Wall Street.When Yale’s $41 billion endowment sold billions of dollars of stakes in private investment funds last month, the usual players lined up to split the spoils: Blackstone, HarbourVest, Pantheon. A quiet winner, though, was California’s $556 billion state-employee pension, which bought about $550 million of Yale’s assets at just under 90 cents on the …
Cal Matters
CalPERS recovers from tariff plunge and notches a big investment gain
California's biggest pension fund and markets around the world learned to live with President Trump's tariff threats. CalPERS gained 11.6% on investments in 2024-25.
CalPERS to increase PE exposure - Private Equity Wire
CalPERS, the largest public pension plan in the US, is set to deepen its exposure to private equity following its best annual performance since 2019, underscoring growing institutional conviction in the asset class despite ongoing valuation and liquidity concerns, according to a report by the Financial Times. Stephen Gilmore, Chief Investment Officer at the California Public Employees’ Retirement System, said it was reasonable to expect our priv…
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Calpers pushes further into private equity after best results in four years From FT: Calpers, the largest public pension fund in the US, has signalled an appetite for more exposure to private equity despite concerns that these assets could expose retirees to too much risk. Stephen Gilmore, chief... Article link
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