The $388 million Indiana State Police Pension Trust is still considering conservative fund of hedge funds managers to further diversify the portfolio’s current structure.
Originally officials were planning on hiring a firm by 1 April 2012. At this point, officials are still reviewing a large number of applications. A recommendation is slated for the next board meeting, which is scheduled for 15 May.
Pension staffers gathered information from firms in early March to allocate approximately $50 million to one or more groups. Managers participating in the search are required to have a level of transparency that at a