The New York State Common Retirement Fund recently allocated $50 million to a hedge fund. The new allocation, which went to a relative value quantitative hedge fund, took place in early June.
According to Infovest21, this is the fifth hedge fund allocation this year for the pension fund. Including the most recent allocation, the Common Retirement Fund has allocated $730 million to hedge funds this year.
At the end of the pension’s 2013 fiscal year, absolute return funds represented 3.2% of its total portfolio. Opportunistic alternatives accounted for 0.2%. The FY2013, absolute return strategies returned 7.95% for the pension fund.
Learn more about this allocation by visiting Infovest21’s website.