CalPERS senses new era

Super Return 2008 is underway in Munich. Leon Shahanian, the senior investment officer for alternative investments with the California Public Employees Retirement System (CalPERS), spoke about the changing industry from the pension perspective. He says the fund has "adjusted" expectations on returns and thinks the days of 30 to 40 percent gains are over, and that no one expected them to last forever. That said, the fund seems willing to boost its allocation which, overall, spells good news for top funds. There are new challenges, however, including a California bill that would bar the pension from investing in funds that have sovereign wealth investors.  

For more:
- here's  the article from the New York Times

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