Fort Worth (Texas) Employees’ Retirement Fund is redeeming its $12.5 million investment in the BlackRock Global Ascent Fund, a global macro hedge fund, Joelle Mevi, executive director and chief investment officer, said in an e-mailed statement.
Executives at the $2.1 billion pension fund are deciding how to reallocate the money. In an e-mailed response to questions, spokeswoman MaryKay Glass said trustees wouldn’t give a reason for the redemption.
