CalPERS Expected To Miss 7.5% Annual Target

The California Public Employee’s Retirement System (CalPERS) is heading towards a big miss for its fiscal year, which ends today, having only earned 3% in the first ten months of the fiscal year compared to its 7.5% annual target, reports Dean Starkman for the Los Angeles Times.

“We don’t like to get too excited about any one-year return,” CalPERS CIO Ted Eliopoulos reportedly said in a public meeting last week. “As the board is well aware, we would like to look at longer time periods as they are much more meaningful in measuring our performance.”

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