Texas Employees Scraps Separate Hedge Fund Portfolio

Jun 7 2013 | 11:31am ET

One major public pension fund is doing away with its hedge fund portfolio—while keeping the hedge funds themselves on board.

The Employees Retirement System of Texas has scrapped its separate hedge fund allocation, Institutional Investor reports. The $24.9 billion pension will continue to invest in hedge funds, but has integrated them into its overall portfolio.

Hedge funds will now be considered part of major asset-class portfolios, such as equity and fixed-income.

ERS voted to integrate its hedge funds in February.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.