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 September 18, 2017

8:45 am - Closed Session

Or Upon Adjournment or Recess of Board Closed Session, Whichever is Later
(Government Code sections 11126(a)(1) and 11126(c)(16))

Closed Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Chief Investment Officer's Briefing on Market and Personnel ItemsTed Eliopoulos
    3. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the August 14, 2017 Investment Committee Closed Session Minutes
    4. 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. Asset Allocation
      1. Asset Class and Segment Allocation ConstraintsEric Baggesen
    2. External Manager and Investment Decision Updates
      1. Private EquitySarah Corr
      2. Real AssetsPaul Mouchakkaa
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. OpportunisticKevin Winter
      6. Asset AllocationEric Baggesen
    3. Total Fund
      1. Private Equity: Follow up on Alternative Business ModelsTed Eliopoulos
    4. Chief Investment Officer – Personnel, Employment and PerformanceTed Eliopoulos

10:00 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
    3. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the August 14, 2017 Investment Committee Meeting Minutes
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the November 13, 2017 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. Independent Oversight
      1. Changes to Infrastructure Board Investment ConsultantWylie Tollette
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
  3. Information Agenda Items
    1. Program Reviews
      1. Global Fixed Income Annual Program ReviewCurtis Ishii
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      2. Global Equity Annual Program ReviewDan Bienvenue
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
        5. Attachment 5
      3. Consultant Review of the Global Fixed Income ProgramAndrew Junkin, Wilshire Associates
        1. Attachment 1
      4. Consultant Review of the Global Equity ProgramAndrew Junkin, Wilshire Associates
        1. Attachment 1
        2. Attachment 2
    2. Policy & Delegation
      1. Public Asset Class Investment Policies – First ReadingWylie Tollette, Kit Crocker
        Andrew Junkin, Wilshire Associates
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
    3. Total Fund
      1. CalPERS Consultant Public Fund Universe Comparison ReportsAndrew Junkin, Wilshire Associates
        1. Attachment 1
    4. Summary of Committee Direction (Oral Report)Ted Eliopoulos
    5. Public Comment

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. (Cal. Code Regs., tit. 2, § 552.1.)
  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.