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Investment Manager for San Diego Pension Plan Dials Up the Risk to Combat a Shortfall
The Wall Street Journal; subscription may be required Link to more items from this source
Aug. 14, 2014
"A large California pension manager is using complex derivatives to supercharge its bets as it looks to cover a funding shortfall and diversify its holdings. The new strategy employed by the San Diego County Employees Retirement Association is complicated and potentially risky, but officials close to the system say it is designed to balance out the fund's holdings and protect it against big losses in the event of a stock-market meltdown. San Diego's approach is one of the most extreme examples yet of a public pension using leverage -- including instruments such as derivatives -- to boost performance."

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