California investment

California investment - News

Calpers Seeks to Buy TARP Holdings, Citigroup Assets

Bloomberg - Apr 15, 2009

CNBCThe Sacramento, California-based fund invests 7.6 percent of its funds in cash, a category that calls for no allocation under targets established in December 2007, according to its Web site. The fund’s bond investments represent 24.8 percent of the US pensions rethink bets on hedge funds

Investment firm targeted Latinos in Ponzi scheme, SEC alleges - Los Angeles Times

Los Angeles Times, CA - Apr 14, 2009

HispanicBusiness.comInvestment firm targeted Latinos in Ponzi scheme, SEC allegesMaximum Return Investments of El Segundo and its owner misappropriated or lost $23 million from about 150 Latino investors in California and six other states, the federal regulator said in a lawsuit. By Stuart Pfeifer The Securities and Exchange SEC alleges El Segundo woman ran Ponzi scheme $23M Ponzi Plot Targeted Hispanic-Americans: SEC Company Employing Ponzi Scheme Targeting Hispanics Charged by SEC

Progressive Profit Declines 2.9% on Investment Loss

Bloomberg - Apr 15, 2009

“They’ve repositioned their portfolio pretty significantly,” said Michael Yoshikami, chief investment strategist at Walnut Creek, California-based YCMNet Advisors, which tracks insurance stocks. “We don’t think they’re going to have long-term issues

Hearing puts spotlight on offshore drilling - San Francisco Chronicle

San Francisco Chronicle, USA - Apr 15, 2009

Hearing puts spotlight on offshore drillingInterior Secretary Ken Salazar will be in San Francisco on Thursday to hear what the nation's biggest energy companies and the public think of the federal government's plan to open up California's pristine coastal waters to oil drilling for the first

San Diego County man sentenced for elder fraud - San Jose Mercury News

San Jose Mercury News, USA - Apr 15, 2009

San Diego County man sentenced for elder fraudThey say Brashear told his clients they would receive higher returns on their investments but failed to disclose that he owned American First Fidelity and that their investment would not be in an annuity. Prosecutors say Brashear used the victims'

Calpers Seeks to Buy TARP Holdings, Citigroup Assets

15.04.09

By Saeromi Shin

April 15 (Bloomberg) -- The California Public Employees’ Retirement System said it’s seeking opportunities to buy assets of Citigroup Inc. and other financial companies tied to the U.S. government’s $700 billion Troubled Asset Relief Program.

Calpers, as the largest U.S. public pension manager is known, said today it’s setting aside “billions of dollars” amid the credit crunch and is ready to deploy capital. It added that there’s a “glimmer of hope” in the stock market.

The pension fund is seeking to buy “some of the assets of these financial companies such as Citi and the others, assets that they’re trying to get off their balance sheets,” Henry Jones, a Calpers board of administration member, said in an interview after a speech in Seoul.

Calpers’s cost of managing its investments declined to the lowest level since 2004 after the value of fund holdings fell 27 percent this fiscal year, and it projects its investment costs will fall to $817 million in the 12 months that begin July 1, down from $1.04 billion last year, according to a report that will be presented to the fund’s governing board. That is the lowest since the fund spent $523 million in the fiscal year that ended June 30, 2004.

Source: Bloomberg

California investment - News

Calpers Seeks to Buy TARP Holdings, Citigroup Assets

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