CalPERS earned a preliminary net return of 4.7% for the fiscal year ended June 30, CEO Marcie Frost said Wednesday at the $396.9 billion pension plan board's offsite meeting.
Ms. Frost noted that the California Public Employee Retirement System’s funded status is an estimated 70%.
"Now obviously we are still in the grip of COVID-19 and you certainly see the markets continue to be volatile during this time," she said.
The California Public Employees' Retirement System earned a net annualized return of 6.3% for the five years ended June 30, 8.5% over 10 years and 5.5% in the 20-year period. The pension fund produced an average annual return of 8% over the 30 year-time frame.
"Of course, we are all pleased to be in positive territory" during a challenging investment environment, Ms. Frost said.
The highest returning asset class during the one-year period was fixed income with a net 12.5% return, followed by real assets with 4.6% and liquidity with 1.6%. The lowest performing asset class for the 12-month period was private equity with -5.1%.
Ms. Frost noted that the returns for real assets and private equity lag by a quarter and are as of March 31.
