San Francisco City & County Employees' Retirement System voted to give its staff discretion to rebalance its portfolio within set ranges. Previously, the board of the $10.5 billion system had approved rebalancing changes on a quarterly basis, which was "suboptimal," said Leslie Kautz, principal at consultant Angeles Investment Advisors. The new method should improve returns by the "tens of basis points," she said.
San Francisco City & County Employees' Retirement System voted to give...
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