Fri, Oct 9, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Florida state investment portfolio to double investment in alternatives

Thursday, March 08, 2012

Bailey McCann, Opalesque New York - By unanimous vote today, the Florida state Senate passed a bill that will allow up to 20% of the state's investment portfolio to be allocated to alternative investments. The move doubles the allocation which currently sits at 10%. The investments are managed by the State Board of Administration which manages a variety of Florida's investments including the $120b Florida Retirement System.

The Florida Alternative Investment Association (FLAIA) issued a statement about the bill, noting that the organization has spent the past two years advocating on behalf of members on this specific issue. FLAIA raised the concern that the public pension fund is not properly positioned to perform well in volatile financial markets.

FLAIA will be advising state officials on the resulting portfolio allocation and best practices for manager selection. The measure will now to go Governor Scott who is expected to sign the legislation into law immediately.

The bill may have an impact on ongoing pension budget fights in the legislature. According to local press accounts, Circuit Court Judge Jackie Fulford ruled Tuesday that a new law requiring state employees hired before July 1, 2011, to contribute 3 percent to their retirement fund......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko