Massachusetts to shave $1bn from HF portfolio

Tue Sep 1, 2009

Trustees of the $40 billion Massachusetts Pension Reserve Investment Management Board are not only disbanding the fund's 6% allocation to portable alpha, but in voting to lower the hedge fund allocation there is a need to dump more than $1 billion in hedge fund assets.

The portable alpha programme had underperformed in 2008, which has been the case in...


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