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CalPERS earns 16.7 percent return for fiscal 2004.(News & Numbers)(California Public Employees' Retirement System)(Brief Article)
The California Public Employees' Retirement System earned a 16.7 percent return on its investments for the one-year period ended June 30, 2004, boosting overall market value to $166 billion and achieving double-digit returns that have not been seen since the mid 1990s.
CalPERS Chief Investment Officer Mark Anson reported that the fund added $22.7 billion in value, $2.3 billion of which was generated by taking advantage of unique market opportunities. "We beat our benchmarks in four out of five asset classes, and did so while managing our risk and navigating through the ups and downs of the market last year," Anson said.
CalPERS' investment performance should provide hope to the state and local public employers responsible for making contributions to fund the benefits. It may help to reverse the past trend of rising employer contribution rates, which was caused by three years of low to negative investment returns. While no employer ...
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Source: HighBeam Research, CalPERS earns 16.7 percent return for fiscal 2004.(News &...