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图表23CalPERS投资加权平均有效久期(年)
图表23CalPERS投资加权平均有效久期(年)
行业数据
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图片格式:PNG
图片大小:79KB
图片尺寸:1100*874
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
所属报告:
全球公共养老金行业研究系列(五):美国CalPERS资产负债管理的平衡术-250125(45页).pdf
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图表12CalPERS部分投资与财务相关报告
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2025-02-06
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图表10CalPERS2022-2027年战略目标
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2025-02-05
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图表15CalPERS当前所处的ALM周期及其时间安排(2023-2026)
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2025-02-05
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图表532023财年CalPERS同类型基金收益率情况
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2025-02-05
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表14,灰色线)。CalPERS贴现率的最近一次调整是在2021年7月,由于其在2020-21财年实现了21.3%的投资回报,
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2025-02-05
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图表11CalPERS《总基金投资政策》的历史变化
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其二,债券投资关注久期管理和评级管理。一方面, CalPERS 各类资产投资的加权平均久期差异较大,通过久期管理所有资产的利率风险,确保投资组合对利率变动的敏感性保持在合理范围内,有效对冲利率波动风险,稳定投资组合价值。具体而言,CalPERS 根据各类固收资产的特点和风险承受能力,分别设定了久期相对于基准的波动范围,如国债资产为定制彭博政府债券指数久期的±10%,抵押支持证券、投资级公司债券、新兴市场主权债券和高收益债券段分别为定制彭博抵押贷款指数、定制彭博非主权国家公司债指数、定制摩根大通新兴市场债券全球多元化指数、定制彭博高收益指数的±50%。另一方面,CalPERS 管理各类资产评级,要求其持有的主权短债、主权长债、非主权短债、非主权长债最低评级分别为 A2、Baa2、A2、A-。
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全球公共养老金行业研究系列(五):美国CalPERS资产负债管理的平衡术-250125(45页).pdf
2026年美国公共养老金行业报告:资产负债管理框架,ESG投资与千亿气候行动
表14,灰色线)。CalPERS贴现率的最近一次调整是在2021年7月,由于其在2020-21财年实现了21.3%的投资回报,
图表9CalPERS的组织架构
图表7PERF资产规模及增长情况
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