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The Golden Gate Bridge in San Francisco. Photo: Getty Images.

Oct. 7 (Bloomberg) — The San Francisco Employees’ Retirement System board on Wednesday will consider whether to add hedge funds to its asset allocation, just as the California Public Employees’ Retirement System announced plans to divest such investments.

The board should approve investing 15 percent of its assets in hedge funds, which would offer good returns and low volatility, according to a recommendation in an October memo from William Coaker, the fund’s chief investment officer.

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