SECURITIES

CalPERS Reports 20.1% Return for Year: The California Public Employees’ Retirement System said the return on its investments for the fiscal year ended March 31 compares favorably with the 8% earned for the previous year. The $99.6-billion public pension fund, the nation’s largest, attributed the results to a shift in assets toward the higher-returning equity markets. The fund’s equity holdings showed a return of 26.8%. CalPERS manages assets for 1 million current and former public employees and their families. The fund’s return compares with a 32% rise in Standard & Poor’s 500 index of U.S. stocks over the same period, assuming reinvestment of dividends.