Reuters first as pension fund CALstrs scales back commodities plan

Reuters had its second scoop on No. 2 U.S. pension fund Calstrs in two months with a Nov. 10 report that the fund was scaling back to merely $150 million an earlier grand plan to invest up to $2.5 billion in commodities. The California State Teachers Retirement System also exclusively told Reuters through a spokesman that the investments will not kick in until the spring of 2012 as it had to first find suitable managers to run the new commodities portfolio. The story was only matched two days later by Wall Street Journal and Financial Times.