By Heather Gillers
Calpers' investment chief has added his voice to the chorus of major investors concerned about President Trump's tariff campaign.
The half-billion dollar pension fund, which invests the retirement savings of firefighters, police and other public workers in California, has lost about $15 billion since Wednesday as stocks have cratered.
JPMorgan Chief Executive Jamie Dimon has said levies would slow down the U.S. economy and longtime hedge-fund managers Stanley Druckenmiller, Dan Loeb and Bill Ackman have also spoken out against the tariffs.
"We share the concerns expressed by other investors," Calpers investment chief Stephen Gilmore said in written remarks Monday. He predicted the market turmoil could drag down the pension's June 30 year-end returns. "While we're well-positioned to weather unsettled times, we aren't immune to these market challenges."
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(END) Dow Jones Newswires
April 07, 2025 18:35 ET (22:35 GMT)
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