CalPERS Expected To Miss 7.5% Annual Target

The California Public Employee’s Retirement System (CalPERS) is heading towards a big miss for its fiscal year, which ends today, having only earned 3% in the first ten months of the fiscal year compared to its 7.5% annual target, reports Dean Starkman for the Los Angeles Times. “We don’t like to get too excited about any one-year return,” CalPERS CIO Ted Eliopoulos reportedly said in a public meeting last week. “As the board is well aware, we would like to look at longer time periods as they are much more meaningful in measuring our performance.” CalPERS on a campaign to…