Falling oil prices have been bad news for Indiana pension funds.
The Indianapolis Business Journal reports (http://bit.ly/1wQRgjk ) the Indiana Public Retirement System has nearly 7 percent of its $24 billion defined-benefit portfolio invested in commodities. That stake helped drag the entire fund down more than 1.2 percent between July 1 and Jan. 31.
The drop illustrates the challenges investors face as they seek alternatives to stocks since the Wall Street crash of 2008.
Indiana's pension system changed its investing strategy in 2012 to eliminate wide swings in performance. The state system has 22 percent of its portfolio in stocks and 32 percent in bonds.
Overall, the Indiana pension fund was up nearly 14 percent for the fiscal
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