High Commodity Prices Boon for Pensions

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Record prices for commodities -- among them, oil, precious metals, corn and uranium -- are luring pension investments and helping to drive up prices, analysts told the Washington Post.

Soaring fuel prices may be busting U.S. consumers' travel budget but they're boosting returns on pension fund investments, analysts said.

California's public employees' pension fund invested $1.1 billion in oil and other commodities for the first time last year -- and has jumped 68 percent in value, The Washington Post reported. Fairfax County, Va., pension managers watched their investments grow 61 percent during the past 12 months.

"Our commodity investment has really helped," Robert Mears, executive director of Fairfax County's Retirement Administration Agency, told the Post. "This year would have been a lot worse."

Record prices for commodities -- among them, oil, precious metals, corn and uranium -- are luring pension investments and helping to drive up prices, analysts told the Post.

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