Saturday, 29 August 2015
Last updated 13 hours ago
Mar 13 2012 | 11:05am ET
Teachers in Minnesota's capital are poised to put a significant chunk of their futures in the hands of alternative investments managers.
The St. Paul Teachers' Retirement Fund Association has adopted a new asset allocation that includes its first foray into hedge funds and commodities and a big jump in its private equity investments.
The $950 million public pension has created a 5% hedge fund allocation and doubled its private equity allocation to 10%, Pensions & Investment reports. It has also rejigged its 10% real estate allocation, creating instead an 11% "real assets" allocation that will also invest in commodities.
And more could be on the way: Minnesota legislators are mulling a change that would allow St. Paul to put a total of 35% in alternative investments, up from the current 25%.
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…