MFA Blog

San Jose Police & Fire Pension Allocates $50 Million Among Four Hedge Funds

Posted on August 15, 2013

The San Jose Police & Fire Department Retirement Plan recently allocated $50 million between four hedge funds.

The pension, which has $2.9 billion in assets under management, tapped funds that represent a number of different strategies.  Multi-strategy, relative value, long/short equity, and Japan long/short equity are all strategies represented in the new allocations.

San Jose Police & Fire Department Retirement Plan has a target allocation of 10% for absolute return strategies.  Within absolute return, relative value has a 35% target allocation while event driven has a 20% target allocation.  Equity long/short’s target allocation is 15% and macro/directional has a 30% target allocation.

Read more about this allocation story online from Pensions & Investments.