Does the SCA currently screen for environmentally acceptable companies, beyond its prohibition against firms which produce nuclear energy?
We’re working on it. A trustee committee has been wrestling with the idea of how to implement a new screen. I’m thinking seriously of having a special session to go at this in depth. We feel very strongly about trying to get environmental concern written in-this is an issue with a much broader base, and it’s going to be very much in evidence. THE QUEST FOR YIELD IS GLOBAL You’ve indicated that about 70 percent of CREF assets are indexed. Isn’t it going to be very difficult to beat the current market? We have gone through market drops before. But if you have a long-run strategy and you have both the passive component and the active component and the international component, not only are those segments frequently countervailing and offsetting, but also, in the long run, you get the kind of return that we’ve been getting. But that’s because we have had that long-term orientation. Sure, you make some mistakes, but then we’ve beat the 12 largest insurance companies for 40 years. If you star
