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

The San Francisco City and County Employees’ Retirement System’s board has voted 6-1 to move 5 percent of its $20 billion fund into hedge funds. 

It’s a win for hedge fund proponents, sort of. Last year, some of the fund’s staffers were pitching a 15-percent allocation. 

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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