P&I – San Francisco City & County Employees’ Retirement System’s new chief investment officer wants to overhaul the system’s portfolio, hiring equity managers that short the market or run specialized portfolios and diverting some fixed-income assets into hedge funds.
William Coaker Jr., who started as CIO of the $18.3 billion fund at the end of January, told the retirement system’s board Wednesday that the changes are needed to make sure the system will meet its 7.5% assumed rate of return in the future.
