Institutional Investors

Massachusetts may terminate FoHFs


The $47 billion Massachusetts Pension Reserves Investment Management Board will be considering an overhaul of the hedge fund programme as the group’s investment committee is understood to have approved a plan that would terminate up to four of the five remaining funds of hedge funds in its portfolio.

The board’s annual plan discussed by trustees last month includes the hiring of a new senior investment officer of hedge funds and the continued expansion of the direct hedge fund programme, which is slated to grow by nearly $3 billion after the termination of funds of hedge funds in a