CalPERS Comments on Outcome of British Vote to Leave European Union
June 24, 2016
Communications & Stakeholder Relations
Brad W. Pacheco, Deputy Executive Officer
Wayne Davis, Chief, Office of Public Affairs
SACRAMENTO, CA - The California Public Employees' Retirement System (CalPERS) today issued the following statement from Chief Investment Officer Ted Eliopoulos on the outcome of the British vote to leave the European Union:
"We are carefully monitoring the situation. As a long-term investor, we don't overreact to short-term volatility but we will take appropriate steps to best protect our portfolio."
Additionally, Eliopoulos made a series of comments on the matter in a video recording also released today.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for nearly 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $294 billion. For more information, visit www.calpers.ca.gov.
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