Institutional Investors Wrappers / Structures

New Haven pension fund adds replication strategy with $8 million fund allocation

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The City of New Haven Employee Retirement System allocated $8 million to a multi-strategy hedge fund replication separately managed account vehicle.

Managed by IndexIQ, the strategy is designed to be liquid, transparent and low-cost, and represents the first hedge fund strategy for the city pension fund. The IQ Hedge Multi-Strategy SMA seeks to track the performance of the IQ Hedge Multi-Strategy SMA Index, before fees and expenses. The index attempts to replicate the risk-adjusted return characteristics of the collective hedge funds using multiple hedge fund investment styles, including long/short equity, global macro, market-neutral,