(Bloomberg) -- The largest public pension fund in the US is looking hire a new chief investment officer by early next year following the surprise resignation...
-- The largest public pension fund in the US is looking hire a new chief investment officer by early next year following the surprise resignation of its previous leader less than 18 months on the job.Brutality of Surprise Attack Unites Israel Around One Goal: Crush Hamas
Then there’s pressure of meeting the pension plan’s 6.8% annual return target. If it falls short, municipalities across California could be forced make up the difference and even cut services to meet obligations. The fund earned 5.8% last fiscal year, a sharp turnaround after a 6.1% loss in the prior year that was its worst showing in more than a decade.
Calpers could increase private equity weight in the portfolio from 13% to 18% if the investment team “felt like they had the appropriate deal flow,” Frost said. “I think having a CIO who has a background in private assets will continue to be part of the credentialing of the next CIO.” “I don’t know that there are any other seats on a US public company or pension plan that has the same transparency and visibility,” said Frost. “Some people are wired for it — and some people don’t know if they are wired for it. Or they think they are wired for it until they actually sit in the seat.”Here are Tuesday's top 3 performers on the TSX, including a precious metals newbieA slump in U.S.
Ask an Advisor: How Do I Cover $3,000 in Monthly Living Expenses? I'm 58 With $700k in Retirement Savings, But I Won't Collect Social Security for 7 Years
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Calpers CEO Says Early Next Year ‘Best Case’ for Naming New Investment Chief - BNN BloombergCalifornia Public Employees’ Retirement System Chief Executive Officer Marcie Frost said the largest US pension fund probably won’t install a new chief investment officer until 2024.
Read more »
Metro Bank CEO Says Barclays Among Potential Buyers of Mortgages - BNN BloombergMetro Bank Holdings Plc Chief Executive Officer Daniel Frumkin indicated that Barclays Plc is among the possible buyers of a £3 billion ($3.7 billion) mortgage portfolio the struggling lender put up for sale as it attempts to strengthen its balance sheet.
Read more »
Kaiser healthcare union says week-long strike possible early next monthExplore stories from Atlantic Canada.
Read more »
Kaiser healthcare union says week-long strike possible early next monthExplore stories from Atlantic Canada.
Read more »
Unity Software Says CEO to Exit, Reaffirms Quarterly Guidance - BNN BloombergUnity Software Inc., the maker of software used by video-game creators, named technology veteran James Whitehurst as interim chief executive officer, replacing John Riccitiello, who is retiring.
Read more »
British Homes Still Face Energy Crisis, Octopus CEO Says - BNN BloombergUK consumers still face an energy crisis this winter and the government should offer them support similar to last year, the head of a major supplier said.
Read more »