S&P 500 Up 30 Percent, While CalPERS Up 16 Percent In 2013

Buoyed by strong stock market performance in 2013, the California Public Employees’ Retirement System, commonly referred to as CalPERS, delivered annual returns of 16.2%, its best number in a decade. The S&P 500 index, by contrast, was up 29.6% in 2013, its best year since 1997.

In the pension fund’s $282.6 billion investment portfolio, publicly traded stocks performed the best in 2013 while bonds and commodities performed the worst. Real estate, which suffered deep losses during the recession and its aftermath, grew 11.7%, while investments in infrastructure jumped 11.2%. Bond investments...