Pension Fund Manager Confirms Desire to Own More Farmland
Jun 30, 2010
A key investment manager of the massive TIAA-CREF pension fund recently confirmed his desire to add more farmland to the fund's investment portfolio. Jose Minaya, who heads the fund's investments in agriculture, told Bloomberg News "we don't have enough" farmland in their portfolios. He indicated that TIAA-CREF wants to add more farmland because it diversifies their portfolio since farmland has low correlation with other asset classes and is an inflation hedge. He went on to say that "farmland is also a store of wealth. It is kind of like gold."
Click here for the full story, which ran in Investment News.
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