Institutional Investors

Pennsylvania School Employees beefs up programme


The $48 billion Pennsylvania Public School Employees’ Retirement System has decided to allocate an additional $250 million to Capula Investment Management at its last board of trustees meeting.

Consultant Aksia recommended a $250 million allocation to the Capula Tail Risk Fund, Class C shares.

This decision follows a $200 million mandate awarded to the Capula Global Relative Value Fund in late 2010 and the new mandate is one of a long line of direct allocations that are part of the retirement system’s $4 billion absolute return programme.

Pennsylvania’s holdings also include Brevan Howard,