CalPERS Expands Governance Efforts Into Japan, Europe

November 15, 2001 ( - 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.

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.

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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.

– Nicole Halsey