Is CalPERS a sovereign wealth fund?

Monk, Ashby. “Is CalPERS a sovereign wealth fund?”. Issue in Brief 8-21, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, December 2008. http://hdl.handle.net/2345/bc-ir:104319.
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Abstract

The brief's key findings are: (1) Soverign wealth funds (SWFs) - government-sponsored pools of financial assets – are drawing increasing scrutiny by regulators. (2) However, the definition of a SWF is widely debated. (3) Perhaps SWFs are best defined as funds that invest in the government's interests and have no specific outside liabilities. (4) Thus, public pension funds such as CalPERS, which are largely independent and have fiduciary responsibilities to public workers, are not SWFs.

Title
Is CalPERS a sovereign wealth fund?
Author
Monk, Ashby
Center
Center for Retirement Research
Genre
report
Date Issued
December 2008
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
8-21
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104319
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and Local Pensions

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