Institutional Investors

Wisconsin hires AQR, Bridgewater for risk parity


The $68 billion State of Wisconsin Investment Board (SWIB) allocated $600 million to two risk parity strategy managers as part of its multi-asset allocation.

The mandate is split equally between AQR and the Bridgewater All Weather fund with funding coming from cash and the multi-asset liquidity fund, which is managed internally, according to SWIB spokeswoman Vicki Hearing. The risk parity portfolio was approved by the board in 2010 to help provide additional diversification for the Wisconsin Retirement System Core Trust Fund with investments that provide attractive returns with better diversified risk.

The manager