Monday, 25 July 2016
Last updated 1 hour ago
Mar 8 2010 | 4:05am ET
The Windy City’s finest are going global. The Chicago Policemen’s Annuity & Benefit Fund plans to allocate about $150 million to a global macro hedge fund manager.
The $3 billion pension will issue a request for proposals next month. In the interim, it and consultant Ennis Knupp will determine whether to select a single-manager fund or a fund of hedge funds, Pensions & Investments reports.
The Chicago pension plans to allocate 5% of its assets to the global macro mandate. It will be funded by a reduction in the plan’s domestic equity portfolio.