California Public Employees’ Retirement System (CalPERS) has posted a loss for the fiscal year 2021-22, the biggest U.S. pension fund said in a statement.
What Happened
On a preliminary basis, the fund generated a net return of a negative 6 percent on its investments for the 12-month period ended June 30, it said. This marks the first loss for CalPERS since the global financial crisis of 2009.
At the end of the period, CalPERS’ assets stood at $440 billion, down from $469 billion at the end of the previous fiscal. This represents a reversal from the 21.3 percentreturn it earned In the fiscal year 2020-21.
A breakdown of returns by investment categories showed that global public stocks returned a negative 13.1 percent and fixed investments returned a negative 14.5 percent. On the other hand, the private equity and real assets sectors returned 21.3 percent and 24.1 percent, respectively….