Calpers to Boost Allocations to Event-Driven, Macro Funds
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The California Public Employees’ Retirement System plans to boost its allocations to event-driven and global macro hedge funds to help reduce the impact of fluctuations in the stock market.
The biggest U.S. pension fund aims to invest 5 percent of its hedge-fund portfolio with event-driven managers, up from zero in its current weighting, and increase investments in global macro funds to 10 percent from 2 percent, according to a presentation posted on the system’s website.