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Responding to liberal activists, the pension fund board endorses a more cautious investment strategy, following in the footsteps of other pension funds.
Another key pension fund, the New York City Employees Retirement System (NYCERS), has decided to pull its money out of hedge funds and endorse an asset allocation more in line with more cautious longer-term investment objectives. The NYC pension fund represents a total $60.5 billion, as of June 30, 2015, and will be pulling $1.7...
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