ILS investor PSERS to divest from all hedge funds
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ILS investor PSERS to divest from all hedge funds

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Pennsylvania’s Public School Employees Retirement System (PSERS), a major ILS investor with more than $800mn invested in several managers, is set to divest from all its absolute return hedge fund holdings, the organisation announced on Friday.

The board voted to approve a new strategic asset allocation that will lift its public equities investment at the cost of eliminating the absolute return holdings.

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