CalPERS staff recommended one-year contract renewals for 11 of the $141 billion pension fund’s external money managers. The recommendations will be up for approval by the investment committee of the California Public Employees’ Retirement System at its Nov. 13 meeting.
Affected managers are: Dimensional Fund Advisors, which manages $1.3 billion in domestic small-cap passive equities; Baring Asset Management, Julius Baer Investment Management, Merrill Lynch Asset Management and Rogge Global Partners, $1.1 billion each, international fixed-income; Bridgewater Associates and Wellington Management, $1 billion each, international bonds; and Western Asset Management, $525 million, international bonds. Also up for renewal are the program’s three currency overlay managers: Pareto Partners, which runs $2.7 billion; Credit Suisse Asset Management, $1.6 billion; and State Street Global Advisors, $600 million.