Wyoming Retirement System invested $30 million in Tudor Investment's Tensor Fund, completing a new allocation to global macro hedge funds that totals $180 million, confirmed John Johnson, senior investment officer for the $6.5 billion system.
The Cheyenne-based fund already had invested in five other global macro funds managed by BlueCrest, Brevan Howard, Caxton, Moore Capital and Graham Capital Management. The exact funds and the size of each allocation could not be learned.
The fund's next hedge fund allocation will be to long/short equity managers as part of the system's revamp of its active equity portfolio. That search is scheduled for the last quarter of the year, after the fund's current search to add additional passive equity managers to manage as much as $1 billion is completed, Mr. Johnson said. The details of the new active equity portfolio still are being determined, he said.
Separately, the Wyoming system added a real asset investment option — the PIMCO All Asset Fund — to its 457 deferred compensation plan, according to a news release on the system's website.
Assets of the deferred compensation plan totaled $368 million as of Dec. 31, according to the fund's most recent annual report.
Also, because of “a recent change in its management team and subpar performance,” the GE Institutional Strategic Investment Fund is being removed as an investment option in the plan, according to the release. Assets invested in the GE fund will be automatically mapped over to the appropriate BlackRock LifePath target-date fund, based on the participant's age and expected retirement date.
Chris Linehan, a GE Asset Management spokesman, declined to comment.