CALPERS Returns 1% For Fiscal Year.

The article reports on the decline in the return on investment of California Public Employees' Retirement System (CALPERS) in the fiscal year ending June 30, 2012. The pension fund, which reported a 1% return, had assets of 233 billion U.S. dollars as of June 30, 2012 and has an annual investment return target of 7.5%, which it had lowered from 7.75%. Similarly, stocks in its portfolio dropped which is attributed to the turmoil in Europe and slowing economic growth globally.