SECURITIES
From Times Staff and Wire Reports
CalPERS May Increase Stock Portfolio: California’s public pension fund is considering putting $3.5 billion into equities in a move that could give a major boost to U.S. stock markets, a newspaper reported. Dale Hanson, head of the $73-billion California Public Employees Retirement System, the nation’s largest public fund, told the Wall Street Journal that he wants more of the fund’s portfolio devoted to stocks. The fund, known as CalPERS, now has $23 billion--31% of assets--invested in the equity market. Hanson said additional stock purchases over six months would bring the total to 36% if CalPERS proceeds with the plan. Both proposals will be discussed at a CalPERS board meeting next month.
