The California Public Employees' Retirement System reported a loss of more than 6% last fiscal year, its first negative investment return since the Great Recession, the state pension fund said Wednesday.
At the close of the 2021-22 fiscal year, which ended June 30, the fund stood at $440 billion, a loss of nearly $30 billion from the previous year, when CalPERS reported a positive 21.3% return to bring the fund's total to $469 billion.
"Tumultuous global markets played a role in CalPERS' first loss since the global financial crisis of 2009," the organization said Wednesday in a release.
