Lincoln (Neb.) Firemens & Policemens Retirement System may invest $4 million in the J.P. Morgan Multi-Strategy fund of hedge funds, and it may also invest $1 million in the Smith Hayes Capital 20 Fund, said Paul Lutomski, pension officer. The commitments are pending approval from the $132 million pension plans advisory committee at its Nov. 7 meeting.
Funding would come from reducing Treasury strip investments to $22 million, from $27 million, he said. The plan may eventually add to these investments; the plans investment policy allows up to 10% of total assets to be in alternatives, he said. The plan is not using a consultant.