CalPERS returned 15.4% on its investments in 2006, according to spokesman Clark McKinley. The $229 billion California Public Employees Retirement System, Sacramento, posted an average annual return of 13% for the three years ended Dec. 31 and 10% for the five years. Real estate returned 27.6% for the year ended Dec. 31, while international equities returned 25.2%; private equity, 20.9%; domestic equities, 15%; hedge funds, 13.4%; and fixed income, 5%. The fund has 40.3% of its assets in domestic equities; 22.8% in fixed income; 22.8%, international equities; 7.9%, real estate; 5.6%, alternatives; and the rest in cash.
Separately, CalSTRS returned 16.6% for 2006, said spokeswoman Sherry Reser. The $157.9 billion California State Teachers Retirement System, Sacramento, posted an average annual return of 13.3% for the three years ended Dec. 31 and 10.3% for the five years. International equity returned 26.4% for the year ended Dec. 31, while real estate returned 26.1%; alternatives, 21.9%; domestic equity, 16%; and fixed income, 4.8%. The fund has 43.1% of its assets in domestic equity; 22.2% in international equities; 20.1%, fixed income; 8.3%, real estate; 6%, private equity; and 0.3%, cash.