Wednesday, 6 May 2015
Last updated 19 hours ago
Jun 15 2011 | 2:25am ET
While many institutional investors are rushing to add hedge funds to their portfolio, the Illinois State Universities Retirement System is taking a decidedly wait-and-see approach.
The $14.7 billion pension has unveiled a new asset allocation plan whose most conspicuous feature is the absence of any hedge fund target at all. The exclusion comes in spite of an April 22 decision to consider hedge funds and other absolute return strategies for the new asset allocation.
Daniel Aiken, the plan's chief investment officer, told Pensions & Investments that SURS would look further into absolute return investments before taking the plunge. But the new asset allocation halves SURS' space for experimentation, its opportunity portfolio, from 2% to 1%.
SURS also decided against an increase in private equity investments, leaving that asset class's target at 6%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…