Korean-born investment professional June Kim has been appointed Deputy Chief Investment Officer for Public Markets at the California Public Employeesโ Retirement System (CalPERS), the nationโs largest public pension fund.
CalPERS, which manages $556 billion in assets, serves nearly 2 million state and local government employees across California. The agency announced Kimโs appointment on Oct. 8, according to CalPERS, and said she will officially begin her new role in December.
Kim most recently served as Senior Investment Director of Total Fund Management at the California State Teachersโ Retirement System (CalSTRS), which manages $367.7 billion in assets for more than 1 million public school educators. Since joining CalSTRS in 2014, she has led the fundโs global equity investment strategy and served as Interim Co-Deputy CIO.
Before her tenure at CalSTRS, Kim worked as Principal Investment Officer for Equities at the Los Angeles County Employees Retirement Association (LACERA) and as an Investment Officer for the City of Los Angeles.
โIโm honored to join CalPERS and continue the important work of ensuring a strong and secure retirement for those who have served California,โ Kim said. โSupporting the financial future of our members is a crucial mission, and I will do my best to uphold that promise.โ
Founded in 1932 to manage retirement benefits for California state employees, CalPERS expanded in 1939 to include local governments and public agencies. Its massive portfolio has made it a major player in global markets, giving rise to the term โCalPERS Effectโ โ referring to the influence its large-scale investments can have on stock prices regardless of company performance.
