Uncertainty from Covid-19 and due diligence challenges have prompted real estate investors to favour blind pools over large-scale projects.
The Police Mutual Aid Association is to raise its allocation to foreign alternatives and stocks with a view to strongly boosting returns. It is mulling hiring BlackRock and Pimco to run bond portfolios.
Two of the country's state pensions, the Public Officials Benefits Association and the Police Mutual Aid Association, have reportedly had differing fortunes in their hunt for investment heads.
The Police Mutual Aid Association is keen to club together with likeminded institutional investors to seek global equity and real estate exposures.