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Calpers posts 1 pct return for fiscal year ended in June
July 16, 2012 / 7:09 PM / 5 years ago

Calpers posts 1 pct return for fiscal year ended in June

PETALUMA, Calif., July 16 (Reuters) - The California Public Employees’ Retirement System posted a 1 percent gain for the fiscal year ended in June, sharply narrower from a 20.9 percent gain in the prior fiscal year, Chief Investment Officer Joe Dear said on Monday.

The small gain is also well below the biggest U.S. public pension fund’s new assumed annual rate of return, lowered in March by its board to 7.5 percent from a longstanding 7.75 percent to reflect a more cautious outlook on financial markets.

The fund’s assets were worth $233 billion at the end of June. Their value fell in March 2009 to a recession low of about $160 billion from a peak of about $260 billion in October 2007.

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