Moscow City – view of skyscrapers at Moscow International Business Center. (Photo: Shutterstock)
(Bloomberg) – A debate is raging inside the California Public Employees' Retirement System over whether it should quickly exit its Russia investments — at a hefty cost. In the past week, staffers at the largest U.S. public pension discussed the possibility of dumping the holdings, a decision that would ultimately require the board's approval. That followed California Governor Gavin Newsom's call for state pensions to cut off money to Russia following its invasion of Ukraine — and to send a message to the world that the country is uninvestable.
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