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 December 19, 2016

9:00 am - Closed Session

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

Closed Session

  1. Agenda Items
    1. Chief Investment Officer's Briefing on Market and Personnel IssuesTed Eliopoulos (Government Code sections 11126(a)(1) and 11126(c)(16))
    2. Pending Litigation – Investment MatterMatthew Jacobs (Government Code section 11126(e))

9:30 am - 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
      1. Monthly Update – Performance and RiskWylie Tollette, Eric Baggesen
        1. Attachment 1
        2. Attachment 2
    3. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the November 14, 2016 Investment Committee Meeting Minutes
      2. Report to the California Legislature - Iran and Sudan Divestment
        1. Attachment 1
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the February 13, 2017 Investment Committee Meeting
      3. Monthly Update – Investment Compliance
        1. Attachment 1
      4. Federal Investment Policy Representative Update
        1. Attachment 1
  2. Action Agenda Items
    1. Total Fund
      1. Annual Report to the California Legislature - CalPERS Emerging Manager Five-Year PlanLaurie Weir
        1. Attachment 1
      2. Review of Tobacco RestrictionsTed Eliopoulos, Wylie Tollette, Dan Bienvenue, Kit Crocker
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
        6. Attachment 6
        7. Attachment 7
        8. Attachment 8
  3. Information Agenda Items
    1. Program Reviews
      1. Responsible Contractor Policy Program Annual ReportLaurie Weir
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
      2. Investment Manager Engagement Programs UpdateLaurie Weir
        1. Attachment 1
        2. Attachment 2
      3. Proxy Voting & Corporate Engagement UpdateAnne Simpson, Dan Bienvenue, Simiso Nzima
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
      4. Manager Expectations Pilot UpdateAnne Simpson, Dan Bienvenue
        1. Attachment 1
    2. Business Plan
      1. Investment Office Roadmap and Target Operating Model UpdateWylie Tollette
        1. Attachment 1
    3. Summary of Committee Direction (Oral Report)Ted Eliopoulos
    4. 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 November 14, 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. Total Fund
      1. Review of Tobacco RestrictionsTed Eliopoulos, Wylie Tollette, Kit Crocker
    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
      6. Asset AllocationEric Baggesen

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.