New Orleans To Review Allocations

Dec 22 2005 | 8:26pm ET

The board of the $400 million New Orleans Employees Retirement System will meet on Feb. 8 to discuss which investment priorities to address in 2006. Jerry Davis, chairman, said the board will look at its hedge fund and fixed-income allocations, reviews that were put off because of Hurricane Katrina.

Davis said the plan will opportunistically look at hedge fund investments, most likely fund-of-funds, though it will also continue to look at individual funds. He said any interested managers should contact him, preferably by e-mail, at jerryd@cityofno.com.

The plan currently invests in core fixed-income and will look at additional strategies to help improve returns, including bank loans and credit card loans. Morgan Stanley serves as the plan's consultant.


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