Wednesday, 25 November 2015
Last updated 1 hour ago
Feb 26 2013 | 1:03pm ET
The California Public Employees Retirement System plans to rejigger its hedge fund portfolio with the addition of event-driven strategies and a major new emphasis on global macro.
The public pension fund, the biggest in the U.S. with $254.5 billion in assets, plans to add a 5% weight within its hedge fund portfolio to event-driven, up from nothing, and to quintuple its global-macro weight to 10%, Bloomberg News reports. CalPERS has about $5 billion invested in hedge funds.
The pension will also boost its target allocation to long/short equity to 15% from 11% and to equity-market neutral to 10% from 3%. To fund the changes, it will slash its fund of hedge funds target from 19% to just 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…