Sunday, 29 March 2015
Last updated 1 day ago
Mar 17 2006 | 12:00am ET
The $53 billion Pennsylvania School Employees Retirement System has adopted plans that recommend a new strategy and a new asset class. The retirement system will introduce a currency hedge program as a strategic element of its non-U.S. equity portfolio and hopes to establish a 5% exposure to commodities as an asset class.
The recommendations are part of a recently completed asset allocation study conducted by Wilshire Associates. Evelyn Tatkovski, spokeswoman, said it is too premature to tell whether the fund will actively seek managers.
The fund also made new commitments to private equity. The plan will commit up to $200 million each to the Fortress Investment Fund IV and Cerberus Institutional Partners. The fund's commitment in the Fourth Cinven Fund will also be boosted to €150 million from €80 million.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…