Administration February 11, 2003

CalPERS Staff Recommends Equity Manager Renewals

November 14, 2002 (PLANSPONSOR.com) - California Public Employees' Retirement System (CalPERS), the giant California public employee pension fund, should keep its equity managers around for another year.
Reported by

That was the recommendation from the CalPERS investment staff  regarding a 12-month contract for the 26 companies that manage $20.1 billion of its international and domestic equity funds, according to a Dow Jones news report.

CalPERS’ Investment Committee is scheduled to vote on the recommendation Monday.

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Among the recommended renewals were 15 managers handling $8.5 billion of the $136-billion fund’s international equity investments.

Dow Jones said they include: Artisan Partners, AXA Rosenberg, Baille Gifford, Bank of Ireland, Blackrock International, Capital Guardian, GE Asset Management, Grantham, Mayo, Van Otterloo & Co., Mastholm Asset Management, Newport Pacific Management, Nomura Pacific Management, Oechsle International Advisors, Putnam Advisory Company, Schroder Capital Management and Weiss Peck & Greer (Robeco).

The contract renewal recommendation also covered 11 managers handling $11.6 billion in CalPERS domestic equity investments. Dow Jones said they include:

Alliance Bernstein, The Boston Company, Brown Capital Management, Dimensional Fund Advisors, Geewax, Terker & Company, J.P. Morgan Investment Management, Oak Associates, Ltd., Oppenheimer Capital, Osprey Partners, Putnam Advisory Company, and Pzena Investment Management.

All of the companies in that group manage actively, except Dimensional, a passive domestic equity small-cap manager.

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