The CalPERS Investment Committee is authorized to approve and oversee compliance with investment policies. The following list includes investment policies adopted by the Investment Committee which are implemented by Investment Office staff.

Investment Policies

Cross-Asset Class

  • Total Fund Investment Policy (PDF) - This document includes the following sections:
    • Asset Allocation Strategy
    • Benchmarks
    • Custody Management
    • Divestment
    • Global Derivatives and Counterparty Risk
    • Investment Beliefs
    • Investment Leverage
    • Opportunistic Program
    • Plan Level and Asset Class Transition Portfolios
    • Risk Management
    • Role of Private Asset Class Board Investment Consultants
    • Terminated Agency Pool
  • Global Governance (PDF)

Global Equity

Global Fixed Income

Private Equity

Real Assets

Other Programs

Affiliate Fund Policies