Sunday, 29 November 2015
Last updated 1 day ago
Nov 8 2011 | 10:39am ET
The nation's largest public pension fund may vote to boost its already substantial hedge fund portfolio next year.
The $228.6 billion California Public Employees' Retirement System is launching its first review of its hedge fund program since Joseph Dear became chief investment officer two-and-a-half years ago. While the review has yet to begin, Dear said today that the outcome is all but assured.
"The outcome of [the review] could be a decision to increase the size of the program," he told Bloomberg News. "It could be to leave it where it is. I doubt it will result in a recommendation to shrink the size."
CalPERS currently invests $5.2 billion, or about 2% of its assets, in hedge funds, which were moved in July from the pension's public equity portfolio to its absolute return program.
Dear said that the hedge fund portfolio "demonstrated its value" in the third quarter, when CalPERS' global equity portfolio lost 18%, but its absolute return strategy fell only 2.5%.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…