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 March 14, 2016

9:00 a.m. - Open Session

Or Upon Adjournment or Recess of Board of Administration 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 February 16, 2016 Investment Committee Meeting Minutes
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the April 18, 2016 Investment Committee Meeting
      3. Monthly Update – Performance and Risk
        1. Attachment 1
        2. Attachment 2
      4. Monthly Update – Investment Compliance
        1. Attachment 1
  2. Action Agenda Items
    1. Policy & Delegation
      1. Revision of the Global Governance Principles – Second ReadingTed Eliopoulos, Anne Simpson
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      2. Review of the Investment Committee DelegationWylie Tollette, Kit Crocker
        1. Attachment 1
        2. Attachment 2
      3. Revision of Affiliate Fund Policies and Repeal of Legacy Policies – Second ReadingWylie Tollette, Kit Crocker
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
  3. Information Agenda Items
    1. Policy & Delegation
      1. Revision of Total Fund Investment Policy, including Divestment and Repeal of Legacy Policies – Second ReadingWylie Tollette, Kit Crocker
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
    2. Program Review
      1. Sustainability Accounting Standards Report (SASB) Climate Change ReportJean Rogers, Janine Guillot, Sustainability Accounting Standards Board
        1. Attachment 1
      2. Global Governance Strategic Review: Climate Change FocusAnne Simpson, Dan Bienvenue
        1. Attachment 1
    3. Legislation
      1. Federal Investment Policy Representative UpdateDoug McKeever, Daniel Crowley, K&L Gates
        1. Attachment 1
    4. Summary of Committee Direction (Oral Report)Ted Eliopoulos
    5. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session
(Government Code sections 11126(a)(1), (c)(16) and (e))

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the February 16, 2016 Investment Committee Closed Session 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 AssetsPaul Mouchakkaa
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. OpportunisticTed Eliopoulos
    2. Chief Investment Officer – Personnel, Employment and PerformanceTed Eliopoulos

Notes

  1. Items designated for information are appropriate for Committee Action if the Committee wishes to take action. Any Agenda Item from a properly noticed Committee meeting, held immediately prior to this Board meeting, may be considered by the Board.
  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 three-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.