Knoxville (Tenn.) City Employees Pension Fund board will conduct an asset allocation study in November or December, said Michael Cherry, executive director of the $550 million fund. Consultant Summit Strategies will assist.
Separately, the board heard an educational presentation on portable alpha, 130/30 and hedge fund strategies at its Aug. 9 meeting. The fund does not have any existing portable alpha or 130/30 investments, but does have a total of $38.6 million in hedge funds of funds run by Cadogan Management and Union Bancaire Privee Asset Management. No changes will be made until the asset allocation study is completed, Mr. Cherry said.