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 October 19, 2015

8:45 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 (c)(16))

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

9:00 a.m. - Open Session

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

Open Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Executive Report – 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 the September 15, 2015 Investment Committee Meeting Minutes
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the November 16, 2015 Investment Committee Meeting
      3. Monthly Update – Performance and Risk
        1. Attachment 1
        2. Attachment 2
      4. Monthly Update – Investment Compliance
        1. Attachment 1
      5. Federal Investment Policy Representative Update
        1. Attachment 1
    5. Global Governance Policy Ad Hoc Subcommittee ReportBill Slaton
  2. Action Agenda Items
    1. Policy and Delegation
      1. Revision of Global Equity PoliciesWylie Tollette, Dan Bienvenue
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
  3. Information Agenda Items
    1. Asset Allocation, Performance & Risk
      1. Review of CalPERS DivestmentsTed Eliopoulos, Eric Baggesen, Andrew Junkin, Julia Bonafede, Wilshire Associates Consulting
        1. Attachment 1
      2. Information on Public Market Investments in Coal ProducersTed Eliopoulos, Eric Baggesen
        1. Attachment 1
        2. Attachment 2
    2. Total Fund
      1. Enterprise Risk Report - InvestmentsTed Eliopoulos, Wylie Tollette, Cheryl Eason
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
    3. Program Reviews
      1. Fixed Income Programs Annual ReviewCurtis Ishii, Kevin Winter
        1. Attachment 1
        2. Attachment 2
      2. Consultant Review of Fixed Income ProgramsJulia Bonafede, Andrew Junkin, Wilshire Associates Consulting
        1. Attachment 1
        2. Attachment 2
    4. Policy & Delegation
      1. Proposed Revision of Fixed Income Programs Policies – Initial ReviewWylie Tollette, Curtis Ishii, Kit Crocker
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
    1. Summary of Committee DirectionTed Eliopoulos, Wylie Tollette
    2. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session
(Government Code sections 11126(c)(16))

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the September 15, 2015 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. Total Fund
      1. Annual Review of CalPERS DivestmentsTed Eliopoulos, Wylie Tollette, Andrew Junkin, Julia Bonafede, Wilshire Associates Consulting
    2. External Manager and Investment Decision Updates
      1. Private EquityRéal Desrochers
      2. Real AssetsPaul Mouchakkaa
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. 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.
  4. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings.


Location

CalPERS Headquarters
Robert F. Carlson Auditorium
Lincoln Plaza North
400 P Street
Sacramento, CA 95811

Parking
CalPERS Building Guide (PDF)

Security

For your safety, attendees are screened upon entering the auditorium.