Look whose going global! First it was California Public Employees Retirement System (CalPERS) and now it is California's other big pension fund California State Teacher's Retiriement System (CalSTRS).
The proposal by CalSTRS' staff reflects a greater interest by institutional investors to move from a home-country bias and have their equity portfolio reflect the broader global market. CalSTRS could move some $15 billion to overseas equities from domestic stocks if its investment committee approves.
At Altamont Wealth Management, we have been actively shedding our home country bias and moving towards a global allocation for two years. It is great to hear that the large institutional pension funds are catching up.
Going-Global
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