THE California Public Employees' Retirement System's (CalPERS) decision to leave Malaysia out of its list of emerging markets to invest in is seen as only a minor setback for the KLSE.
Fund managers said geopolitical tensions and a weak appetite for risk at the moment could have led to CalPERS maintaining its investment policy for emerging markets, passing over a recommendation by its adviser Wilshire Consulting to expand the number of emerging countries in its portfolio to 20 from 14.