Hedge Funds Institutional Investors

Ann Arbor moves into managed futures arena


The Ann Arbor Retirement System has set aside roughly $10 million to invest in managed futures strategies as part of the $313 million fund's "basket clause" allocation.

The retirement fund's current basket clause allocations include 4.5% to high yield and 2.5% to hedge funds of the 10% permitted by the act. The high yield allocation is based on the opportunity presented in lower credit quality fixed income, while the $10 million hedge fund allocation is managed in a BlackRock fund of funds with a focus on risk reduction within the equity allocation.

Gray & Company, the pension fund's