NEW YORK, June 17 Calpers, the largest U.S.
pension system, saw the value of its commodity holdings shrink
nearly 6 percent in April as the California-based fund saw the
worst return in a year in its raw materials portfolio, data
showed on Monday.
The $260 billion California Public Employees' Retirement
System said commodities accounted for $1.214 billion of its
total fund as of April 30, down $70 million, or 5.5 percent,
from $1.284 billion at March 31.
Calpers' said in a monthly fund update that overall
allocation to commodities remained unchanged at the March level
of 0.5 percent, a reflection of its large asset base.
In terms of performance, commodities posted a negative
return of 9.8 percent for the year through April. It was the
only Calpers portfolio that was in the red for the period and
was the worst performer by far. The top performing portfolio was
public equity, which was up 16.4 percent, and Calpers' total
fund value rose 13.4 percent.
Commodity prices tumbled in mid-April after signs of
stagnating growth in China, euro zone debt trouble and
uncertainty about U.S. economic stimulus triggered a record
selloff in gold that eventually spread across other raw
The Standard & Poors Goldman Sachs Commodity Index
.SPGSCITR, the benchmark for Calpers' commodities portfolio,
fell 4.7 percent in April for its sharpest decline in 11 months.
(Reporting By Barani Krishnan; editing by Jim Marshall)
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Keywords: PENSION COMMODITIES/CALPERS
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