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Illinois SURS To Include HFoFs Allocation

Illinois State Universities Retirement System is looking at hedge funds of funds and other absolute-return strategies to develop asset allocation proposals for an asset/liability study.

Illinois State Universities Retirement System is looking at hedge funds of funds (HFoFs) and other absolute-return strategies to develop asset allocation proposals for an asset/liability study, Pensions & Investments reports. Investment consultant, Callan Associates, recommended using hedge funds of funds rather than direct hedge funds, for a potential allocation.

The Champaign-based system, which oversees $14.4 billion in defined benefit assets, will consider reducing U.S. equities and increasing non-U.S. equities as well as keeping a 1% target to infrastructure and eliminating 1% commodities. The system’s actual allocation as of March 31 included 32.4% U.S. equities, 20.9% fixed income and 17.7% non-U.S. equities.

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