W i l s h i r e C o n s u l t i n g

WILSHIRE ASSOCIATES

C a l i f o r n i a P u b l i c E m p l o y e e s ’ R e t i r e m e n t S y s t e mU n i v e r s e C o m p a r i s o n R e p o r t – J u n e 3 0 , 2 0 1 7

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Total Fund – Universe Comparison

GOF returns are used in universe comparison.

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Total Fund – Risk and Returns

GOF returns are used in universe comparison.

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Total Fund – Risk and Returns

GOF returns are used in universe comparison.

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Asset Allocation Ranking – Universe Analysis

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

US Equity Int'l Equity Global Fixed Liquidity/Cash Real Estate Alternative

Pe

rce

nti

le R

an

kin

gs

Percentiles: 5, 25, 50, 75, 95

Asset Allocation Ranking of Public Funds > $10 Billion

Percentile Rankings US Equity Int'l Equity Global Fixed Liquidity/Cash Real Estate Alternative

5th 68.28% 30.47% 33.29% 13.06% 13.26% 32.31%

25th 43.19% 22.02% 23.35% 6.88% 7.95% 24.12%

50th 32.11% 18.13% 19.30% 4.08% 4.69% 16.89%

75th 25.39% 11.66% 17.50% 2.41% 0.58% 9.14%

95th 18.37% 0.01% 9.31% 0.65% 0.00% 0.10%

CalPERS 25.40% (72) 22.87% (20) 19.43% (45) 4.79% (42) 9.44% (22) 8.48% (75)

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Growth: Public Equity – Universe Comparison

GOF returns are used in universe comparison.

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Growth: Public Equity – Risk and Returns

GOF returns are used in universe comparison.

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Growth: US Equity – Universe Comparison

GOF returns are used in universe comparison.

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Growth: US Equity – Risk and Returns

GOF returns are used in universe comparison.

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Growth: International Equity – Universe Comparison

GOF returns are used in universe comparison.

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Growth: International Equity – Risk and Returns

GOF returns are used in universe comparison.

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Growth: Private Equity – Universe Comparison

GOF returns are used in universe comparison.

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Growth: Private Equity – Risk and Return

GOF returns are used in universe comparison.

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Income – Universe Comparison

GOF returns are used in universe comparison.

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Income – Risk and Returns

GOF returns are used in universe comparison.

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US Income – Universe Comparison

GOF returns are used in universe comparison.

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US Income – Risk and Returns

GOF returns are used in universe comparison.

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International Income – Universe Comparison

GOF returns are used in universe comparison.

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International Income – Risk and Returns

GOF returns are used in universe comparison.

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Real Estate – Universe Comparison

GOF returns are used in universe comparison.

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Real Estate – Risk and Returns

GOF returns are used in universe comparison.

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IMPORTANT INFORMATION

This material contains confidential and proprietary information of Wilshire Associates Incorporated (Wilshire), and is intended for the exclusive use of the person to whom it is provided. It may not be disclosed, reproduced or redistributed, in whole or in part, to any other person or entity without prior written permission from Wilshire. Third party information contained herein has been obtained from sources believed to be reliable. Wilshire gives no representations or warranties as to the accuracy of such information, and accepts no responsibility or liability (including for indirect, consequential or incidental damages) for any error, omission or inaccuracy in such information and for results obtained from its use. Information and opinions are as of the date indicated, and are subject to change without notice.

This material is intended for informational purposes only and should not be construed as legal, accounting, tax, investment, or other professional advice.

This report may include estimates, projections and other "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented.

Wilshire® is a registered service mark of Wilshire Associates Incorporated, Santa Monica, California. All other trade names, trademarks, and/or service marks are the property of their respective holders.

Copyright © 2017 Wilshire Associates Incorporated. All rights reserved.

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