Institutional Investors

Colorado Fire and Police drops portable alpha


The Fire and Police Association of Colorado is winding down its investments in portable alpha as officials establish an absolute return programme.

Scott Simon, chief investment officer of the $3 billion pension system, said that trustees are heading down the path of terminating the portable alpha portfolio.

The existing hedge fund exposure is slated to move over to a newly created absolute return class, which will add a bit more flexibility in allowing for some higher returning strategies, he said. The next step is likely to be an additional fund of funds with the