CalPERS

Investment Committee Agenda

This committee reviews investment transactions, the investment performance of both internal and external managers, and establishes investment policy and strategy.

(Agenda items are provided in a PDF format, which require Adobe Reader 8 or higher to view.)

Meeting Agenda for April 14, 2014

10:00 a.m. - Closed Session

Or Upon Adjournment or Recess of the Board of Administration Closed Session, Whichever is Later

Investment Committee Closed Session with Consultants – Investment Strategies
(Government Code section 11126(c)(16))

10:30 a.m. - Open Session

Or Upon Adjournment or Recess of Closed Session, Whichever is Later

Closed Session

Upon Adjournment or Recess of Open Session
(Government Code section 11126(c)(16) and 11126(e))

Open Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Executive Report - Interim Chief Investment Officer Briefing (This item will be presented verbally at the meeting.) Eric Baggesen
    3. Consent Items
      Action Consent Items:Eric Baggesen
      1. Approval of Meeting Minutes
    4. Consent Items
      Information Consent Items:Eric Baggesen
      1. Annual Calendar Review
      2. Draft Agenda for the May 2014 Meeting
      3. Total Fund Monthly Update – Performance and Risk
        1. Attachment 1
      4. Total Fund Monthly Update – Investment Compliance
        1. Attachment 1
  2. Information Agenda Items
    1. Asset Allocation, Performance and Risk
      1. Strategic Asset Allocation Targets and Proposed Policy RevisionEric Baggesen
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
    2. Business Plan/Roadmap
      1. Investment Office Cost EffectivenessWylie Tollette
        1. Attachment 1
    3. Public Comment

Closed Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Eric Baggesen
      1. Approval of Meeting Minutes
    3. Consent Items
      Information Consent Items:Eric Baggesen
      1. Closed Session Activity Reports
        1. Status of Action Items Not Yet Reported
        2. Items Completed Under Delegated Authority
        3. Disclosure of Placement Agent Fees: Proposed Investments
        4. Investment Proposal Status Reports
    4. Program Reviews
      1. Global Governance Program: Corporate Engagement Investment StrategyAnne Simpson
    5. External Manager and Investment Decision Updates
      1. Private EquityRéal Desrochers
      2. Real AssetsTom McDonagh
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. Absolute Return Strategies ProgramCurtis Ishii
      6. Global GovernanceAnne Simpson
      7. OpportunisticEric Baggesen

Notes

  1. Items designated for information are appropriate for Committee action if the Committee wishes to take action.
  2. The hour designated as the earliest starting time for this meeting is not intended to communicate the expected duration (or ending time) of the preceding meeting.
  3. Public comment may be taken on any Agenda item. There is a 3 minute limitation on each public comment unless otherwise directed by the Committee Chair.
  4. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings.

Dated: 04-14-2014