| Nearly five years after it began investing in commodities, the biggest public pension fund in the United States has yet to make any money in the asset class -- highlighting the difficulty even the largest and most sophisticated institutions encounter in wringing returns from investments in agriculture, metals and energy derivatives.
The California Public Employees' Retirement System (CalPERS) had assets valued at $236 billion at the end of March 2012, including $3.6 billion linked to commodity prices, according to the latest quarterly performance report presented to CalPERS investment committee in May...............................................Full Article: Source
|