CalPERS’s February 2019 Investment Committee reviews investment transactions, the investment performance of both internal and external managers, and establishes investment policy and strategy.
CalPERS February 2019 Investment Committee
The next item on the agenda is approval of the February 19th 2019 investment committee timed agenda entertain a motion.
Motion from Brown’s second from Hollinger ALL IN FAVOR SAY AYE AYE. Pozos motion carries. By the way we did receive half of the Unathi investment committee the full board received letters both from the California Professional Firefighters as well as the California School Employees Association. We appreciate their input. Now we’ll move to the executive report and it’s sure been making it your first report an official committee meeting so welcome and we look forward to hearing your comments.
Come on everyone [inaudible]. So this morning the review [inaudible] every year there is a way to lose trust level review twice once with star resolver consult him first and then the second time he will stop using stuff first.
So today’s time that will start with we will sure on the [inaudible] I will review them followed by the staff so that concludes my call.
Oh yes sorry. Correct. That was that was short and concise. Thank you very much.
So now we’ll move to the action. Consent items.
Do I hear a motion. No no. That’s on the lights on the action information consent okay motion from Jones who seconded Miller second familiar all in favor say aye.
Aye oppose. Motion carries.
I’ve been asked to pull two items off of the item agenda item 6 information consent 6. A Aland or angel calendar review and 6. That was from Mr. Perez and from Lynn Paquin representing the controller 6b. So before we move to Item 7 let’s go ahead and address those items so we’ll start with six.
And Mr. Perez you ask if you’ll get your request button. There Mr. [inaudible].
In light of the training that I just received in preparation for the to be a board member I realize that the onus of fiduciary responsibility is pretty high.
And so doing that we are still responsible for the decisions of the past boards. So I wonder if we can put it on the agenda during the calendar sooner rather than later. A reassessment of our divestitures.
This is all. When’s the next time we do divestment review.
I just wanted to do we know can staff.
So there are various different reviews as we go through but I think we moved everything to a five year plan and it’s out it’s out a ways I don’t know exactly what the date is but it’s out a ways.
Well in consideration of Mr. Prez’s request I don’t think anything prevents us from having a discussion on this at least to bring new members up to date. But let’s see if staff has any further commentary.
So 2021 is our expected day for all five of the Devis reviews. However if we need to do it sooner certainly have directed we certainly can do it sooner.
We have any comments from other board members regarding this issue.
Yes the board lit up Ms Taylor.
Yes thank you. We have reviewed and discussed these divestments ad nauseum.
I will say most of them are done through the legislature.
There’s very few that the board is made on its own and we’ve recently reviewed. I think that one.
So I’m not sure that it’s necessary for us to bring. I don’t feel that it’s necessary for the board to bring it up.
So I would oppose this pay. Ms Brown.
Thank you Mr. Chairman. I would appreciate if you would agenda this for either next month or March. Just an overview.