Monday, 26 January 2015
Last updated 12 min 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%.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…