Business Services Industry

Detroit Retirement System Increases Investment in Mount Lucas Management's MLM Index

Business Wire, August 28, 2001

Business Editors

PRINCETON, N.J.--(BUSINESS WIRE)--August 28, 2001

Mount Lucas Management (www.mtlucas.com), a leading provider of managed futures investment programs for institutions and high net worth investors, announced today that that the General Retirement System of the City of Detroit, one of the largest municipal pension funds in the US, has increased its allocation to MLM Index(TM), one of the best performing, diversified futures products available to tax-exempt investors, by 25%.

Frank Vannerson, Chairman of Mount Lucas Management, said, "The Detroit General Retirement System has been an MLM Index(TM) investor since late 1997 and they have had good returns -- exceeding their actuarial assumption -- since the inception of the investment. Like many other public pension funds, the General Retirement System is looking for alternative investment vehicles that are liquid, that have complete transparency and that have no correlation with traditional asset classes. The MLM Index(TM) more than meets these criteria."

David Clark, Chairman of the General Retirement System, said, "The MLM Index(TM) is one of the most versatile index-based alternative investments available. The board was willing to increase it's allocation by such a substantial amount because the MLM Index(TM) has demonstrated its ability to maintain consistently strong returns across rapidly changing investment environments."

New England Pension Consulting is the General Retirement System's investment consultant.

Mount Lucas Management (www.mtlucas.com), headquartered in Princeton, New Jersey, is a leading provider of managed futures investment programs for institutions and high net worth investors. Founded in 1986, Mount Lucas designed and managed the first futures investment program for a major institution that encompassed all aspects of the investment, including trading, investment accounting and monitoring, and legal structure. Mount Lucas' MLM Index(TM) is used by consultants and financial planners as a benchmark for evaluating returns from managed futures and its MLM Global Markets Strategy(TM) uses futures index technology to replicate the returns associated with a basket hedge funds.

COPYRIGHT 2001 Business Wire
COPYRIGHT 2001 Gale Group

 

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