18.02.2013 - Commodities do not fit the zeitgeist
Calpers, the influential $244bn Californian state pension scheme, caused a stir last month when it revealed it had slashed its exposure to commodities from 1.5 per cent of its portfolio to just 0.6 per cent, pumping the surplus cash into inflation-linked bonds instead. The move comes after a poor two years for commodities, with investors in the major indices nursing losses on a total return basis, rather than the inflation-plus returns many had hoped for...............................................Full Article: Source
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