philippine news

Feb 14, 2004

CalPers grading ‘overrated, error-filled,’ say gov’t execs

Jun Vallecera
Daily Tribune

Senior administration officials brushed aside reports that Manila once again failed to make the grade as a permissible investment site for part of the California Public Employees’ Retirement System’s multi-billion dollar portfolio worldwide, saying the importance of its grading system had been vastly overrated.

Officials would rather keep mum on the subject, preferring to make light of the CalPers’ report that the Philippines scored low under its…

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