US - The selection of emerging manager fund of funds managers and a corporate governance update are just some of the issues due to be discussed by the investment committee of the California Public Employees' Retirement System (CalPERS).
The committee reviews investment transactions, the investment performance of both internal and external managers and establishes investment policy and strategy.
Its next meeting is due to be held at 9am, on 13 August 2007, and items on the agenda include a discussion of global fixed income policy regarding the adoption of US Treasury Inflation Protected Securities (TIPS), and the chief operating investment officer’s status report.
Information on the environmental manager annual review and a Wilshire study on the retirement system’s corporate governance programme will also be provided.
In a separate development, Global Pensions reported last month that CalPERS had acknowledged the need to become nimbler when responding to market dynamics.
Clark McKinley, information officer at CalPERS, made the comment while discussing the appointment of Farouki A. Majeed as the organisation’s senior investment officer for asset allocation management.
Majeed will be responsible for asset allocation implementation, the pension fund’s asset allocation team and the board’s asset allocation workshop, which is scheduled for November 2007.
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