NYPD fund for Dublin firm

FOR the first time in its history, part of the New York City Police pension fund has been invested outside of the United States.

A Dublin-based firm has been selected by the Superior Officers Council City of New York Police Pension Fund to manage part the overall fund.

KBC Asset Management’s (KBCAM) international team has been given an initial tranche of $8 million (€6.2m) to manage as part of its high dividend fund and it marks the first time that this NYPD fund has invested monies overseas.