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CalPERS’ India exposure falls for second year in a row


The California Public Employees' Retirement System (CalPERS), the largest US pension fund, has posted a drop in its India exposure for the second year in a row as the fair value of the real assets it holds plunged. The decline comes at a time when two other pension funds, Canada Pension Plan Investment Board (CPPIB) and the Netherlands’ APG, have been building their India portfolio aggressively over the past couple of years. CPPIB opened its first India office in Mumbai in October 2015 and has ramped up its India bets, especially in the real estate sector. APG, too, has been...

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