The $17 billion School Employees Retirement System of Ohio investment committee approved six investments, three of which were in the private credit portfolio.
The largest allocation though was within the currency overlay program, where AlphaEngine Global Investments Solution, a smart alpha strategy, was selected to manage a $500 million notional mandate.
The timing comes as the overlay program, which includes a currency program and tactical asset allocation component, saw performance turn negative as the U.S. dollar declined and the euro appreciated. Fund staff in a presentation to trustees said they expected to have positive . . .
Unlock this article instantly, along with the rest of our premium content, newsletters and data tables tracking investor and manager activity. Monthly and annual subs available. Research articles require an Annual sub.