Correction: Foundation/endowment plans earned a median 14.4% for the year ended Dec. 31, while public plans returned a median 14.3% and corporate plans, 13.3%, according to Mercer's Summary Performance of U.S. Institutional Portfolios survey. For the quarter, U.S. foundation/endowment earned a median 6.1%, while public pension plans earned a median 5.8% and the corporate plans, 5.7%. The figures were incorrect in the Feb. 21 P&I Daily.
Separately, City of New Orleans Employees' Retirement System hired Hancock Bank Institutional Investment Management to manage $10 million in active domestic large-cap value equities. The firm's name was incorrect in a Feb. 15 P&I Daily item.
Also, a sentence describing the details of a proposed bylaws amendment at Hewlett-Packard was from a letter CalPERS sent to HP shareholders. A Feb. 21 story in P&I Daily attributed the information to Rob Feckner, CalPERS' president. In the same story, Charles Valdes, chairman of the investment committee, was not referring to a new emerging markets corporate governance program when talking about reviewing CalPERS' eligible emerging markets criteria.