The California Public Employees' Retirement System, Sacramento, with $100 billion in assets, has downgraded Mexico as an investment market, listing it as ``category B,'' acceptable for only limited investment exposure.
CalPERS' active international portfolio managers cannot place more than 20% of their portfolio assets in total in category B countries. Mexico had been listed in CalPERS' A category, a market considered ``appropriate'' for investment and where investment in the market is not constrained. The change was made in part because several assassinations of key Mexican political figures and businessmen have challenged the Mexican government's ability to continue economic reforms, Wilshire Associates said in a report.
