Hedge-Fund Investments for NYC Pensions
Proposals from hedge fund consultants are being sought after by New York City's pensions funds for civil employees, police officers and firefighters. These NYC pensions funds are considering its feasible to invest in hedge-fund investments as they are loosely regulated pools.
This would be the first time that the three pensions funds would invest in hedge funds as they have not historically done this in the past. With combined assets of $64.5 billion, the pensions funds are seeking advice on creating a strategy, and an assessment on potential investment growth from hedge funds.
However, there's been an average decline of 2.5 percent in hedge funds in the last three months, while there was a 12 percent slump in the Standard & Poor's 500 Index of the largest publicly-listed companies in the United States.