Saturday, 5 September 2015
Last updated 14 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%.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…