U.S. Equities

CalPERS manages U.S. public equity investments both actively and passively through external managers and internally managed portfolios. Nearly 40 percent of our total investments are held in U.S. public equities.

Refer to our Asset Allocation information to find out the amount of money CalPERS has currently invested in U.S. equities.

Externally Managed Equities

Approximately 40 percent of our public equity investments are managed externally by well-established active investment management firms. Active portfolio investment strategies include U.S. equity, international equity, and emerging markets. Through the CalPERS External Manager Development Program, smaller developing investment firms are also able to participate in managing a portion of our investments.

Internally Managed Equities

Active Management

CalPERS has an internally managed enhanced index fund. The strategic objective of the fund is to diversify the domestic equity segment through a risk-controlled, value-added strategy. Other internal active strategies are managed using fundamental security characteristics in domestic and international markets.

Passive Management

CalPERS manages all passive strategies in-house across a variety of portfolios covering both domestic and international markets. Currently, there are about seven portfolios employed to achieve the objectives set forth in the global equity investment policy.

Additional Resources

External U.S. Equity Managers
U.S. & International Equity Program Business Opportunities
External Manager Development Program
CalPERS Investment Policies - Global Equity

Dated: 05-17-2013