07/12/2019 | Press release | Distributed by Public on 07/12/2019 16:15
July 12, 2019
Communications & Stakeholder Relations
Contact: Joe DeAnda, Office of Public Affairs
(916) 795-3991 - [email protected]
SACRAMENTO, Calif. - CalPERS today announced the appointment of Arnold B. Phillips as the managing investment director (MID) of its Global Fixed Income investment program. Phillips had been serving as acting MID since May 2018. The appointment is effective immediately.
As MID he's responsible for the management of approximately $84 billion of fixed income assets, primarily consisting of U.S. and international strategies. The objective of the fixed income program is to diversify and lessen risk in the total fund, and to enhance total fund returns.
'Global Fixed Income is one of the most important programs in our portfolio, bringing diversification and risk mitigation to the total fund,' said Yu (Ben) Meng, CalPERS chief investment officer. 'In more than a year as acting MID, Arnie has been a steady hand, leading the team that brought in the highest return of any individual program this past fiscal year. I'm pleased to make him a permanent addition to the Investment Office's senior leadership team.'
Phillips has held various roles in the Global Fixed Income group, including portfolio manager for Short Duration Fixed Income portfolios from 2001-05. He has also managed various fixed income total-rate-of-return portfolios, with a primary focus on structured securities.
Before he came to CalPERS, Phillips held cash manager and treasury analyst positions with Sutter Health's Treasury Department.
Phillips holds a bachelor's degree in business administration, with a minor in economics, from California State University, Sacramento. He has earned the designation of Chartered Financial Analyst and certification as Certified Cash Manager.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.9 million members in the CalPERS retirement system and the Public Employee Retirement Fund market value currently stands at approximately $373 billion making us the largest defined-benefit public pension in the U.S. Additionally, we administer benefits for more than 1.5 million members and their families in our health program. For more information, visit www.calpers.ca.gov.