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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...