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Calpers cuts AllianceBernstein, PIMCO exposure

Mon Nov 16, 2009 4:39pm EST

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SACRAMENTO, Calif., Nov 16 (Reuters) - The board of Calpers approved on Monday its staff's recommendation to reduce the biggest U.S. public pension fund's exposure to fixed-income investments managed by AllianceBernstein Holding LP and PIMCO.

The board of Calpers, the $200 billion California Public Employees' Retirement System, voted to lower the fund's fixed-income exposure through AllianceBernstein (AB.N) to $500 million from $978 million and through PIMCO to $100 million from roughly $203 million.

(Reporting by Jim Christie, Editing by Chizu Nomiyama)



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