Funds of Hedge Funds Institutional Investors

Milwaukee County adds hedge funds to strategy


The $1.1 billion Milwaukee County Employees Retirement System has added funds of hedge funds to its formal investment policy.

Investment consultant Marquette Associates recommended a 10% allocation to the HFR Hedged Equity FOF, while eliminating high yield fixed-income and some niche capitalisation equity portfolios. The recommendations were made to maximize the return performance of the portfolio as well as eliminating overlap in assets to avoid excessive risks or incurring additional management fees.

Marquette presented the new asset allocation in May and targeted completion of the implementation for October. In a subsequent meeting though, trustees said the long/short and the