Fort Worth (Texas) Employees’ Retirement Fund moved a total of $175 million to 20 hedge fund managers, confirmed Robert Hulme, assistant director of investments. Mr. Hulme would not name the managers.
The money had been in a hedge fund of funds run by Alternative Investment Strategies.
Mr. Hulme said the $1.7 billion system chose direct investing to reduce fees. Phone calls to Alternative Investment Strategies were not returned by press time.
