Monday, 8 February 2016
Last updated 37 min ago
Jun 13 2011 | 11:39am ET
Philadelphia's city employees aren't relying on Arden Asset Management or AG Bisset to help fund their retirements anymore.
The $4.1 billion City of Philadelphia Municipal Pension Fund has redeemed its investments in both firms, HFMWeek reports. AG Bisset, a currency alpha fund, had been allocated $100 million, while Arden had been allocated half as much.
The withdrawals leave Philadelphia with just over $400 million in hedge fund investments.