CalPERS to review active management, asset allocation at off-site Monday

California Public Employees' Retirement System's investment committee members will attempt to reach consensus at a meeting Monday on its investment beliefs including whether active equity managers, once fees are taken into consideration, achieve better returns than the fund's passive index strategies.

No formal vote on the matter is scheduled at the off-site meeting in Petaluma, Calif. The committee is scheduled to take public comment on any potential consensus reached by the committee at its Aug. 19 meeting. A formal vote adopting investment beliefs is scheduled for Sept. 16.

More than half of CalPERS' $259.8 billion in assets are in passive strategies.

The investment committee is also schedule to discuss at Monday's meeting its asset allocation formula for the second half of 2014, the years 2015 and 2016, and the first half of 2017.

CalPERS' investment beliefs will ultimately drive the asset allocation.

The committee reviews asset allocation for the retirement system once every three years. The committee is scheduled to approve the asset allocation formula at its Dec. 16 meeting.

The new asset allocation would go into effect on July, 1, 2014.