Oklahoma Police Pension & Retirement System, Oklahoma City, committed $50 million to a hedge fund run by Pacific Alternative Asset Management, said Robert J. Wallace, executive director. Funding will come from rebalancing domestic equity and domestic fixed-income portfolios. The $1.1 billion pension plan is looking for low volatility with good returns, he said. The plans asset allocation is 75% equity, 15% alternative investments and 10% fixed income. Asset Consulting Group advised.