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 August 18, 2014

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. Executive Report - Interim Chief Investment Officer Briefing (This item will be presented verbally at the meeting.) Ted Eliopoulos
    3. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of Meeting Minutes
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the September 2014 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
        3. Attachment 3
  2. Action Agenda Items
    1. Independent Oversight
      1. Contracts Administration: Infrastructure Board Investment Consultant - Selection of Finalists for InterviewWylie Tollette
        1. Attachment 1
    2. Policy & Delegation
      1. Proposed Regulation Relating to the External Investment Resource Conflict of Interest PolicyCarol Moody
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
  3. Information Agenda Items
    1. Asset Allocation, Performance & Risk
      1. CalPERS Trust Level ReviewTed Eliopoulos
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
      2. CalPERS Trust Level Review - Consultant ReportJulia Bonafede, Andrew Junkin, Wilshire Associates Consulting
        Michael Moy, David Glickman, Pension Consulting Alliance Inc.
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      3. Proposed Revision of Affiliate Funds Asset AllocationsEric Baggesen, Alan Milligan
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
    1. Total Fund
      1. Investment Beliefs Activities UpdateEric Baggesen, Anne Simpson
        1. Attachment 1
        2. Attachment 2
    2. Program Review
      1. Global Govenance Program Update and Financial Markets OverveiwAnne Simpson, James Andrus
        1. Attachment 1
        2. Attachment 2
    3. Public Comment

Closed Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of 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. Action Agenda Items
    1. Program Reviews
        Private Equity Investment OpportunitiesRéal Desrochers
  3. Information Agenda Items
    1. 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. OpportunisticTed Eliopoulos
  4. 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: 08-18-2014