CalPERS added Argentina, Sri Lanka, Thailand and Turkey to its list of emerging equity markets in which the system can invest. The decision was based on a report from general consultant Wilshire Associates, which found that the countries had improved in political stability, transparency and labor practices. Other countries on CalPERS' 2005 permissible equity market list include: Brazil, Chile, Czech Republic, Hungary, India, Israel, Jordan, Malaysia, Mexico, Peru, the Philippines, Poland, South Africa, South Korea and Taiwan. The $183.6 billion California Public Employees' Retirement System, Sacramento, does not allow equity investments in Colombia, China, Egypt, Morocco, Pakistan, Russia, Venezuela and Indonesia. CalPERS had $3.9 billion invested in emerging markets as of Feb. 28.
Separately, the California Assembly on Monday passed a resolution urging CalPERS and the $126.9 billion California State Teachers' Retirement System, Sacramento, to avoid investing in companies that do business in Sudan. CalPERS spokesman Brad Pacheco said the system does not have "direct investments" in Sudan. The same is true for CalSTRS, according to spokeswoman Sherry Reser.