The California Public Employees’ Retirement System(CalPERS)has decided to allow stock purchases in China and other developing countries.
Investing in companies in Colombia, Egypt, Morocco, Pakistan, and Venezeuela will also be permitted if they meet the fund’s investment requirements.
“We will allow selective investments in good companies in these countries while maintaining our strict standards for investment and keeping a sharp eye out for risk,” says Rob Feckner, CalPERS board president.
“By allowing investment in selected public companies that meet our standards, we could encourage others to also qualify by raising their standards to meet our investment criteria.”
Companies would qualify for investment by complying with the pension fund’s permissible market guidelines and the United Nations Principles for Responsible Investment.
To comment on this story email craig.sebastiano@rci.rogers.com.