CalPERS has long been known as a hands-on, activist-oriented pension fund, but its recently minted list of 10 investment beliefs seems to have stirred up some hostility among financial professionals.
Its spokesman calls much of the reaction "uninformed chatter." After a protracted process, the largest public pension fund in the U.S. said it formally adopted its new beliefs to "provide a basis for strategic management of the investment portfolio, inform organizational priorities and ensure alignment between the Investment Office and CalPERS staff."
Sounds harmless, right?
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