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New Jersey Pension Fund Hedge Funds

NJ Pension Fund Allocations

New Jersey Pension Fund May Allocate More to Hedge Funds

New Jersey's pension fund is considering increasing hedge fund allocations as a way of protecting the fund from losses in the stock market.  The $67 billion pension fund was hit pretty hard in the recession and is looking to make up for losses during that time by investing more in hedge funds.
New Jersey’s $67 billion pension fund may increase its hedge fund investments to protect against losses in the stock market, according to a memo prepared for a meeting later this week of the State Investment Council.
The worst economic crisis since the 1930s helped push down the fund’s annual returns to 2.47 percent over the past 10 years, from a target of 8.25 percent, according to the Investment Division’s latest monthly report.
“The objective of this plan is to continue to improve the fund’s overall diversification and to allow the division to achieve its long-term return objectives during today’s low-yield environment with less reliance on traditional public equities,” Joseph wrote in the memo. The investment council will vote on the proposal at a March 18 meeting in New Brunswick, New Jersey.  Source

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