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 February 17, 2015

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10:00 a.m. - Closed Session

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

Chief Investment Officer's Briefing on Market and Personnel Issues
(Government Code sections 11126(a)(1) and 11126(c)(16))

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. Election of Investment Committee Chair and Vice Chair
    3. Executive Report - Chief Investment Officer Briefing (This item will be presented verbally at the meeting.) Ted Eliopoulos
    4. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the December 15, 2014 Investment Committee Meeting Minutes
      2. Report to the California Legislature – Holocaust Era and Northern Ireland
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
    5. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the March 2015 Committee Meeting
      3. Monthly Update – Performance and Risk
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      4. Monthly Update – Investment Compliance
        1. Attachment 1
        2. Attachment 2
  2. Action Agenda Items
    1. Total Fund
      1. Investment Legislative and Policy Engagement GuidelinesDanny Brown, Wylie Tollette
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
        6. Attachment 6
        7. Attachment 7
  3. Information Agenda Items
    1. Asset Allocation, Performance & Risk
      1. CalPERS Trust Level Review - Consultant ReportAndrew Junkin, Julia Bonafede, Wilshire Associates, Michael Moy, David Glickman, Pension Consulting Alliance Inc.
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      2. CalPERS Trust Level ReviewTed Eliopoulos, Wylie Tollette, Eric Baggesen
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
        6. Attachment 6
    2. Policy & Delegation
      1. Proposed Consolidation of Total Fund Investment Policy and Repeal of Legacy Policies - Initial ReviewWylie Tollette
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
      2. Proposed Establishment of the Statement of Investment Policy for Global Governance and Integration of Existing Policies - Initial ReviewAnne Simpson, Wylie Tollette
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
        6. Attachment 6
    3. Program Reviews
      1. Global Governance Program UpdateAnne Simpon
        1. Attachment 1
        2. Attachment 2
    1. Public Comment

Closed Session

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

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of December 15, 2014 Investment Committee Meeting Minutes
    3. Consent Items
      Information Consent Items:Ted Eliopoulos
      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
  2. Information Agenda Items
    1. External Manager and Investment Decision Updates
      1. Private EquityRéal Desrochers
      2. Real AssetsTed Eliopoulos
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. Absolute Return Strategies ProgramDan Bienvenue
      6. OpportunisticTed Eliopoulos

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.

Dated: 02-17-2015