07.07.2009 - Crisis shrinks CALSTRS real estate commitments
From IPE: The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (€29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year. The activity demonstrated by one of the US’ largest pension funds is now typical of many of the large public pension funds in the United States as most funds are finding they are over-allocated thanks to the denominator effect of falls in asset values elsewhere.........Full Article (Registration Required) : Source