Friday, 19 December 2014
Last updated 52 min ago
Apr 25 2011 | 11:25am ET
One Florida city is close to allowing its largest pension fund to begin investing in hedge funds and other alternative investments.
The Jacksonville City Council may vote tomorrow on a bill that would loosen key restrictions on the pension, allowing it to invest in short-sellers and to increase its allocation to alternatives to 10%. The pension currently has a 5% cap, but has never actually invested in a hedge or private equity fund.
The bill easily passed the two committees that considered it.
"Three years ago, I said no. Five years ago, I said no. 10 years ago, I said no," Mickey Miller, Jacksonville's finance director, told one of the committees. "The situation has changed dramatically."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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