The metallic sound of investors fastening their seatbelts for a bumpy ride...

In mid-November 2006, CalPERS announced a $500m allocation to "investments directly linked to prices of energy, metals, and…in companies that produce and distribute such commodities".

The metals sector was undergoing something of a correction. Rising copper inventories had brought the red metal's price down by 20% from its May peak, and with it came lead, zinc, aluminium, nickel and tin.

Precious metals gold, silver and platinum were also lower, although less dramatically.

Supporting the popular

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here