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 April 16, 2018

View Open Session Meeting Transcript (PDF)

9:00 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 (PDF)
    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 March 19, 2018 Investment Committee Meeting Minutes (PDF)
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review (PDF)
      2. Draft Agenda for May 14, 2018 Investment Committee Meeting (PDF)
      3. Monthly Update – Performance and Risk (PDF)
        1. Attachment 1 (PDF)
        2. Attachment 2 (PDF)
      4. Monthly Update – Investment Compliance (PDF)
        1. Attachment 1 (PDF)
  2. Action Agenda Items
    1. Asset Allocation
      1. Affiliate Trust Asset Allocation Review: Supplemental Income Plans (PDF)Christine Reese, Alison Li
        1. Attachment 1 (PDF)
        2. Attachment 2 (PDF)
  3. Information Agenda Items
    1. Total Fund
      1. Dual Class/Non-Voting Shares Update and Debate (PDF)Dan Bienvenue
        1. Attachment 1 (PDF)
      2. Proposed Revisions to Governance and Sustainability Principles (PDF)Anne Simpson, Simiso Nzima
        1. Attachment 1 (PDF)
        2. Attachment 2 (PDF)
        3. Attachment 3 (PDF)
        4. Attachment 4 (PDF)
      3. Corporate Governance Update: Proxy Voting, Shareowner Campaigns and Corporate Engagement (PDF)Anne Simpson, Simiso Nzima
    2. Summary of Committee Direction (Oral Report)Ted Eliopoulos
    3. 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 March 19, 2018 Investment Committee Closed Session 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. Private Equity: Follow up on Alternative Business ModelsJohn Cole
    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. Trust Level Portfolio ManagementEric Baggesen
    3. Investment Strategy Session with Board's Independent Consultants

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 Presiding Officer. (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.