Colorado Fire & Police Pension Association, Greenwood Village, invested $10 million in Brevan Howard Argentina Fund, said Scott Simon, chief investment officer, in an e-mail.
The opportunistic hedge fund managed by Brevan Howard Asset Management will create fixed income and equity exposure to Argentina public markets, and is part of the $4.2 billion pension fund’s absolute-return allocation, Mr. Simon wrote.
The pension fund also made several changes to its target asset allocation, the result of an asset/liability study.
The new target mix is 37% domestic equity, down from 40%; 20% illiquid alternatives, up from 18%; 16% fixed income, up from 15%; 11% absolute return, down from 12%; and 2% cash, up from 1%. Long/short equity and managed futures remained the same, at 10% and 4%, respectively.
