Wednesday, 22 October 2014
Last updated 4 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%.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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