CalPERS Develops Rating System: The California Public...

CalPERS Develops Rating System: The California Public Employees Retirement System pension fund said it has developed a corporate rating system that will guide its stock investment decisions. CalPERS said the rating system will provide a “rational, objective analysis of how a company is performing alongside its competitors.” The system will evaluate three areas: stock performance, economic performance and corporate governance. CalPERS said its rating system will identify companies whose managers have entrenched themselves through excessive anti-takeover defenses.