Thursday, 21 August 2014
Last updated 5 hours ago
Apr 26 2012 | 2:01pm ET
Fort Lauderdale's first responders are eyeing additional funds of hedge funds for their pension.
The $517 million Fort Lauderdale Police and Fire Retirement System has held a series of educational sessions, looking specifically at diversified and long/short commodities funds of funds. The system currently has only a $23 million investment with K2 Advisors.
EnTrust Capital offered a presentation on diversified funds of funds and Pinnacle Asset Management on commodities. The public pension is to hear further manager presentations in June.
"The board has some concerns about how hedge funds as a whole have performed, and are looking at ways to enhance investment returns for the plan without taking on considerably more risk," spokesman Fred Nesbitt told HFMWeek. "They will not hear from single-manager hedge funds until they decide what alternative investments they want to add to the portfolio."
Aug 4 2014 | 7:42am ET
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The Alpha Pages Editor's Note