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Alternative Market Briefing

Investments in hedge funds, alternatives push public pensions’ investment gains

Monday, August 11, 2014

Komfie Manalo, Opalesque Asia:

Public pensions in the U.S., including state and local government pensions posted the highest investment gains since 2011 as the stock markets improves, according to consulting firm Wilshire Associates Inc.

In a report, Businessweek said that data from the Santa Monica, California-based consulting company showed that government pensions registered a median rise of 16.9% from June 3013 to June 2014. It was the highest median posted by public pensions since they registered 21.2% three years ago.

The report added that public pensions with more than $1bn in assets reported the highest performance with 17.4% median because of higher allocations to private equity, hedge funds and other alternative assets.

Wilshire managing director Robert Waid was quoted as saying, "Alternatives outperformed the non-U.S. equity asset class. Larger public plans are more likely to have more exposure to alternatives." He added that smaller public pensions from the state and local government have invested their funds more to less risky U.S. bonds which explained the lower performance.

At the same time, Wilshire Consulting, the institutional investment advisory and outsourced - CIO business unit of Wilshire Associates, said that the ......................

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