Thursday, 2 July 2015
Last updated 1 hour ago
Jun 5 2012 | 12:08pm ET
Arkansas' main public pension fund is set to jump into hedge funds for the first time.
The $4.7 billion Arkansas Public Employees Retirement System, heretofore extremely reluctant to move into the hedge fund space, voted in April to hire a fund of hedge funds, HFMWeek reports. The pension is now searching for a manager to handle a $100 million mandate.
The change of heart follows a February board meeting, at which APERS' executive director and Grosvenor Capital Management sought to demonstrate the value of hedge funds to the pension's portfolio.
Hedge funds "could mitigate much of the volatility currently found in the APERS portfolio without adding any risk," executive director Gail Stone said.
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…