CalPERS cuts India investment grade

The Financial Express reports:

The California Public Employee’s Retirement System (CalPERS), the biggest US pension fund, reduced its investment grade for India by the most in its annual review of 27 nations. Pakistan showed the biggest improvement.

India scored 2 out of a maximum 3 for 2006, falling from 2.25 last year, according to a study conducted by Wilshire Consulting for CalPERS and posted on the Sacramento-based fund’s Web site. Pakistan scored 1.8 compared with 1.63 last year.

These less than altruistic workers of the state of California are investing in risky things like non-U.S. investments.Just think, these are the same windbags that want to tell you that there should be no changes in Social Security.