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Portfolio choices doomed CalPERS' hedge fund program
trueCalPERS officials made ineffective portfolio construction choices for a dozen years before throwing in the towel on hedge funds, sources say.
Canada offers lessons for CalPERS, other U.S. funds
trueI was a member of a task force created in the late 1980s by the government of Ontario to recommend how the province's public-sector pension plans might be restructured for better performance.
Too complex for CalPERS
trueCalPERS' decision on Sept. 15 to close its $4 billion hedge fund program will lead to a lot of re-examination of the investment strategy by other asset owners.
Texas County & District commits $105 million to private equity, real estate
trueTexas County & District Retirement System, Austin, committed a total of $105 million to two alternatives managers, said spokeswoman Brooke Goggans in an e-mail.
CalPERS picks 16 firms for real-assets consulting pool
trueCalPERS hired 16 firms for its real-assets consulting pool to provide various services
BlueCrest spins off BlueTrend fund into own firm
trueBlueCrest Capital Management is spinning off its computer-driven hedge funds into a separate investment firm, just weeks after saying it would cut its management fees as assets drop.
D.C. Retirement Board earmarks for private equity, energy, real estate
trueDistrict of Columbia Retirement Board, Washington, agreed to commit a total of up to $85 million to private equity, energy and real estate
Merced County Employees taps 2 for infrastructure
trueMerced County (Calif.) Employees' Retirement Association hired two infrastructure managers
Fort Worth Employees corrals Harvest Fund Advisors for MLPs
trueFort Worth (Texas) Employees’ Retirement Fund hired Harvest Fund Advisors to manage about $30 million in master limited partnerships.
Oklahoma Firefighters seeks GTAA, hedge fund-of-funds managers
trueOklahoma Firefighters Pension & Retirement System is searching for a hedge fund-of-funds manager and a global tactical asset allocation manager to run $50 million each.
Alameda County Employees issues call for new real estate consultant
trueAlameda County Employees' Retirement Association is searching for a real estate consultant.
Harvard's absolute-return program posts highest outperformance among its asset classes over 5 years
trueHarvard University's absolute-return program outperformed it benchmark by 3.9 percentage points annually over the five-year period ended June 30, topping all other asset classes.
New Mexico State Investment Council to hunt for smart-beta managers
trueNew Mexico State Investment Council, Santa Fe, will launch an invitation to bid search for one or more smart-beta managers to run a total of $1 billion in the coming weeks.
Illinois SURS preps non-core real estate search
trueIllinois State Universities Retirement System plans to issue an RFP on Sept. 29 for managers to run $100 million in non-core real estate.
Fulton County School pension fund seeks discretionary consultant
trueFulton County School Employees Pension Fund is searching for an investment consultant.