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CalPERS/CalSTRS Diversity Conference April 24-25, 2006 Real Estate and Urban Investments

CalPERS/CalSTRS Diversity Conference April 24-25, 2006 Real Estate and Urban Investments Al Fernandez Senior Portfolio Manager Investments – Global Real Estate. Total Fund Allocation - (4/12/06). Assets Actual($) Actual(%) Target ($) Target (%) Range

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CalPERS/CalSTRS Diversity Conference April 24-25, 2006 Real Estate and Urban Investments

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  1. CalPERS/CalSTRS Diversity Conference April 24-25, 2006 Real Estate and Urban Investments Al Fernandez Senior Portfolio Manager Investments – Global Real Estate

  2. Total Fund Allocation - (4/12/06) AssetsActual($)Actual(%)Target ($)Target (%)Range Cash $ 1.4 0.7% $ n/a n/a Non U.S. Fixed 6.0 2.9% 6.3 3.0% Domestic Fixed 43.9 20.9% 48.4 23.0% Non U.S. Equity 49.3 23.4% 42.1 20.0% Domestic Equity - Public 84.5 40.1% 84.1 40.0% Domestic Equity - Private 10.5 5.0% 12.6 6.0% Real Estate 14.7 7.0%* 16.8 8.0% 4%-12% Total CalPERS Assets $210.3 100.0% $210.3 100.0% 21%-31% 60%-70% * Real Estate valuations as of 2/28/06. Source: CalPERS’ Staff.

  3. Partner/Program Portfolio Growth Non-Core exceeds Core in complexity ( 96 Non-Core & 12 Core) 44 New Programs Added in the Past Two Years and 19 In Process 7 Existing Emerging Firms and 5 In Process as of 4-18-06

  4. Real Estate Diversity Programs as of 3/31/06

  5. CURE Diversity Programs Allocation 35% of Total CURE Allocation with Emerging Firms.

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