The CalPERS Investment Policy Manual outlines the investment policies that the CalPERS Investment Committee has approved for itself, the Pension Fund's investment staff, and the third party contractors who provide services and products to CalPERS.
Investment policies have been developed for CalPERS asset classes, portfolios and programs. The policies address CalPERS investment exposure in the public equity, income, real assets, inflation assets and private equity markets on both a national and international level. Each policy provides clarity of authority, responsibility and accountability of CalPERS assets. Although these matters constitute CalPERS internal management, CalPERS Investment Committee has adopted each policy in full public disclosure.
At the Asset Liability Management Workshop in December 2010, new asset classifications were created in reference to CalPERS asset allocation. Below is a table of the previous and current asset classes or program areas.
|Asset Class or Program||Current Asset Classifications|
|Real Estate||Real Assets|
|Inflation-Linked Bonds||Inflation Assets|
|Alternative Investments||Private Equity|
|Global Equity||Public Equity|
|Nominal Government Bonds||Liquidity|
The CalPERS Investment Policies are current as of November 18, 2013.
Policies are continually updated and developed, so check back often for the latest information.
- Global Derivatives Policy (PDF, 57 KB)
- Global Equity Policy (PDF, 80 KB)
- Development of Derivatives Strategies Policy
- Derivatives - External Money Managers Policy