New York City Teachers Reject Hedge Fund Allocation

Jul 1 2011 | 1:05am ET

While three of New York City’s five public pension funds have taken the hedge fund plunge this year, the Big Apple’s teachers have decided against dipping their toes into those waters.

The Teachers’ Retirement System of New York City has excluded hedge funds from its new asset allocation plan, HFMWeek reports. The $42.3 billion pension’s investment board had been considering a 3% allocation to the asset class, which could have amounted to more than $1 billion.

Hedge funds were not included in the final plan “based on feedback from various discussions on this topic,” a member of the investment board told HFM.

TRS’ decision comes after the city’s police, fire department and municipal employee pensions made their first hedge fund investments earlier this year, all hiring fund of hedge funds Permal Group.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note