News Formal

California pension fund Lacera to slash its investment-grade bond portfolio by $6.3 billion

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Sverige Nyheter Nyheter

LA County's pension fund is yanking $6.3 billion from investment-grade bond funds and pouring some of that money into hedge funds. Here's why.

Richard Drew/Associated PressPension fund Lacera is planning to slash its exposure to investment-grade bond funds with managers like Blackrock by $6.3 billion.Lacera will add to its hedge fund allocations and invest in US Treasuries as a hedge against equities.

The shift in strategy by the largest county pension system in the United States comes amid a period of historically low interest rates. A spokesperson for Wells Capital, a unit of Wells Fargo, declined to comment on the matter. Pugh Capital and BlackRock did not respond for comment. Mahseredjian did not specify over what period of time the reductions will take place, but noted that"no decision has been made about specific reductions as of now."

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Bill Gates’ Investment Firm Buys Controlling Stake In Four Seasons Hotels For $2.2 BillionGates’ Cascade Investment LLC will purchase half of Saudi Arabian Prince Alwaleed bin Talal's stake in the luxury hotel chain.
Källa: Forbes - 🏆 394. / 53 Läs mer »