CalPERS today restored the Philippines to its list of permissible emerging markets countries. The $167 billion California Public Employees' Retirement System, Sacramento, has $65 million in Philippine securities; system officials had threatened to remove the country from its permissible investment list. The system also added India and Peru to the permissible emerging equity markets list.
Separately, CalPERS gave its staff discretion to invest up to $500 million in environmentally screened portfolios, through mutual funds and/or separate accounts. In addition, the investment committee approved doubling the fund's allocation to opportunistic real estate investments to $1 billion.
