13/07/2011 Author: Shannon Hawthorne

Missouri hires Winton managed futures fund

The Missouri Local Government Employees Retirement System (Lagers), which has net assets of approximately $3.7bn, has added a new managed futures fund to its investment portfolio.

The board of trustees approved an initial allocation of approximately $45m to Winton Capital Management back in April, meeting minutes reveal.

According to its most recent annual report, Lagers allocates around 16% of its overall portfolio to alternatives, including Avenue Capital Group and Taconic Capital Advisors.

The move comes as investors seeking better liquidity and reduced volatility are becoming increasingly positive on managed futures strategies, with many making their first foray into the space, according to a recent study by consulting and third-party marketing firm Agecroft Partners.

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