CalPERS’ market value has reached $500 billion for the first time, a new landmark for the nation’s largest pension fund.
Pension plan statistics show the retirement plan reached $501.63 billion as of Monday night, following a 1.4% increase in the S&P 500 stock index and another 1.4% increase by the Nasdaq. The S&P increase took the stock index to its highest level ever.
Around 50% of CalPERS assets are invested in equities, meaning that stock market swings in the downward direction could quickly drop assets back under $500 billion.
The pension system’s portfolio reached $400 billion on January 16, 2020 – growing by $100 billion to $500 billion in less than two years’ time.
Read more/Source: The Modesto Bee
