Administration March 11, 2002
CalPERS Expands Governance Efforts Into Japan, Europe
November 15, 2001 (PLANSPONSOR.com) - The California Public Employees' Retirement System's (CalPERS) Board of Administration has approved a plan that adds $1.7 billion to the pension fund's active corporate governance investments and targets greater corporate governance strategies in Japanese and European markets.
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The move increases CalPERS’ investments in active corporate governance strategies to $3 billion and increases the pension fund’s activities in seeking to improve underperforming companies.
CalPERS’ has allocated approximately $1.2 billion to external corporate governance managers whose efforts will be divided between international and domestic allocations.
Approximately $500 million has been earmarked for managers that focus their active corporate governance strategies in the United States, $400 million in Japan and $350 million in Continental Europe.