CalPERS reports negative return for its real estate portfolio 2022-2023 fiscal year

The California Public Employees' Retirement System (CalPERS) reported a preliminary net return of 5.8 percent on its investments for the 12-month period ending June 30, 2023.

Total plan assets as of that date were valued at $462.8 billion.

“Even with the economic challenges that still confront institutional investors, we have been able to maintain our focus on meeting the long-term retirement promises made to our members and their families,” said Marcie Frost, CalPERS CEO. The preliminary 5.8 percent net investment return stands in contrast to the prior fiscal year, when global financial volatility led to the fund’s first negative net return since the Great Recession. Its real estate portfolio reported a negative return, –3.1 percent in net rate of return and –4 percent policy benchmark.