The board took the action May 10, according to a recently released summary from that meeting. The $8 billion pension fund added a new 4% allocation to managed futures as part of its 8% opportunity fund allocation in March. Systematica will manage $130 million, while Allianz Global Investors and Lynx Asset Management will run $100 million each.
The new allocation was created to provide attractive risk-return characteristics, returns uncorrelated to traditional asset classes and downside protection in periods of market stress. Investment consultant Aon Hewitt Investment Consulting assisted.
Separately, SDCERS committed $20 million to Senior Housing Partnership Fund VI, a non-core real estate fund managed by PGIM Real Estate. As of Sept. 30, the actual allocation to real estate was 8.6%.
Real estate consultant Townsend Group assisted.
Elizabeth Crisafi, chief investment officer, could not be immediately reached to provide further information.