Wisconsin’s Select Equity fund, launched just four months ago, aims to use such techniques as long-short pairings.
The $9.4 billion Illinois Police Officers’ Pension Investment Fund has $450 million in international small-cap stocks.
Morgan Stanley takes over from longstanding CIO and his team.
Investors will need help hitting even reduced target returns in the coming years, says Goldman Sachs report.
Sure, passive beats active hollow overall, but ferreting out the market beaters is worth it. Some pension funds heartily agree, some really don’t.
The move is aimed at providing an incentive for active managers to boost returns.
Investment may increase by $200 million.