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CalPERS Reports Preliminary 2011-12 Fiscal Year Performance of 1 Percent
CalPERS 
July 16, 2012
"The California Public Employees' Retirement System (CalPERS) today reported a 1 percent return on investments for the 12 months that ended June 30, 2012, falling short of its benchmark that returned 1.7 percent. CalPERS assets at the end of the fiscal year stood at more than $233 billion.... CalPERS' 1 percent return is below the fund's discount rate of 7.5 percent, a long-term hurdle lowered recently in response to a steady decline in inflation and as part of CalPERS routine evaluation of economic assumptions. CalPERS' 20-year investment return is 7.7 percent."
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