Institutional Investors

Pennsylvania Schools sees 3.6% return from hedge funds


The Pennsylvania Public School Employees’ Retirement System’s absolute return programme has reported a gain of 3.59% for the year ending September 30, 2012. 

For the third quarter alone hedge funds were up 2.34%, net of fees. The figures provide a snapshot of an ongoing decline in hedge fund returns this year, even as equity markets rallied during the same time frame to help the pension fund gain 11.45% for the year.

Absolute return managers in the portfolio include: AQR Capital Management; Black River Asset Management; BlueCrest Capital Management; BlackRock Financial; Brevan Howard; Bridgewater; Capula Investment Management; Nephila Capital; and PIMCO.