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U.S. Pension Fund to Remain in Philippines Despite Recession

Posted: Sep 16, 2009

The biggest pension fund in the United States will not pull out its investments in the Philippines, despite uncertainties in emerging markets after the fall of Lehman Brothers a year ago, the Manila Times reports.

In an e-mail, the California Public Employees Retirement System (CalPERS), which has about $900 billion in investments worldwide, said that as of June 20 this year, its placements in companies listed in the Philippine Stock Exchange (PSE) fell from $53.7 million to around $36 million, a decline of almost 33 percent from the same period a year ago.

According to the e-mail, The difference may be due to stock value declines and not necessarily to selling of shares by the six external managers who deploy CalPERS capital to emerging market countries.






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