Riding the equity market gains of the previous past year,
the fiscal year 2011 returns (to end-June) for US public
pensions have been in the 20%- plus territory, going into the
latest round of market volatility and uncertainty.
The Florida State Board of Administration, the San Diego
County Employees Retirement Association, and the Teachers
Retirement System of Illinois each reported strong returns in
recent weeks. Each group has added single- manager hedge funds
to their investment portfolios this...