Filed Under:Life Insurance, Life Planning Strategies

New York pensions to add hedge funds to reduce volatility

From Bloomberg

Three of New York City’s five public pensions intend to add as many as 15 hedge funds for direct allocations in an effort to reduce equity volatility. The city seeks to post an 8 percent to 10 percent net return with 5 percent to 7 percent volatility a year in its hedge-fund portfolio, according to an official with the New York City Comptroller’s office. It plans to invest all $3.5 billion directly in hedge funds over the next few years across a total of 15 to 20 managers.

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