Bizjournal.com – The nation’s largest public pension fund is considering dramatically reducing or even dropping investments in commodities, hedge funds, and some $55 billion worth of individual company stocks, according to the Wall Street Journal.
Such reductions could mean a subsequent cut to “external managers who are paid millions” to invest for the California Public Employees’ Retirement System, the Wall Street Journal reported.
The moves, though not confirmed by Sacramento-based CalPERS, would appear consistent with the fund’s recent pattern of reducing risk by moving away from some higher performance investments. In May, the fund’s investment committee moved some investments out of private and global equities.
