CalPERS To Recommend Commodity Futures

Mar 10 2006 | 12:00am ET

The California Public Employees Retirement System is reviewing commodity futures and could invest up to $6 billion into the strategy, according to the $207.1 billion plan’s investment committee agenda.

Officials at the fund plan to submit a recommendation for a maiden investment at its April 17 investment committee meeting. Agenda attachments for the March 13 meeting show that commodity futures would provide an annual return of 6.5%, according to staff, while the plan’s consultant, Wilshire Associates, projects a 5.5% annual return. The 3% allocation would likely come from global equities and fixed-income.

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