Colorado Fire & Police Pension Association, Greenwood Village, invested $30 million in Key Trends, the flagship systematic managed futures strategy run by KeyQuant, confirmed Austin Cooley, director of liquid strategies.
In early August, the $4.1 billion pension fund redeemed its $28.5 million investment in Systematica Investments' BlueTrend managed futures fund. The termination was part of a change in the structure of the managed futures portfolio to focus on pure trend/momentum strategies.
Mr. Cooley said the investment with KeyQuant and the termination of the relationship with Systematica were not directly related. Funding for the hire came from cash, Mr. Cooley said.