Colorado County Officials & Employees Retirement Association, Littleton, added the Litman Gregory Masters Alternative Strategies Fund, a multimanager hedge fund-style mutual fund, to the investment lineup of its 401(a) and 457 plans, said recently released meeting minutes.
The Litman Gregory Asset Management fund replaces the Absolute Strategies Fund, an underlying fund in the plans' liquid low-correlated hedge fund-of-funds portfolio, which forms part of the plans' risk-based asset allocation strategies. It is managed by Absolute Investment Advisers.
The reason for the fund's removal could not immediately be learned.
The 401(a) and 457 plans have about $1.2 billion in combined assets.
Jacob Kuijper, executive director, could not be reached for additional information by press time.