US public pensions move beyond the herd mentality
Tue Jul 5, 2011
With $64 billion spread across more than 30 hedge fund portfolios, big pension plans seek a state of sustainability but are still focusing on fees
By Susan Barreto
What a difference a
little more than four years makes. About $40 billion, to be
exact, in the US public pension fund marketplace – or
just a fraction of the assets that flowed into hedge funds
despite a credit crunch, the largest securities fraud case in
history and lack of funding by state legislatures.
The hedge fund portfolios of 41 of the largest US public
pension funds now have $64 billion in assets invested,
according to the latest InvestHedge public pension fund survey.
With overall assets totalling more than $2 trillion, it is
clear that the majority of state retirement systems in the US
have some exposure to hedge funds, which was not the case in
2007 when InvestHedge last surveyed this group.
Of this universe of 41 public pension funds, 22 are
allocated, or plan to allocate, to funds of hedge funds; while
the remainder invest directly...
ISSN: 2151-1845 / CDC10004H
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