Institutional Investors

YMCA reaffirms 12% hedge fund allocation


The YMCA Retirement Fund, one of oldest retirement portfolios in the US, recently reaffirmed its end goal of a 12% allocation to hedge funds after terminating Tremont Capital Management from its portfolio.

An additional fund of funds manager that gained investment approval almost a year and a half ago, and saw that commitment dry up with the liquidity crunch, is likely to receive funding by the end of June. A search to add managers to grow the portfolio from its 9% target is on hold though as long-time YMCA chief investment officer Victor Raskin is retiring at the end