Institutional Investors

University of Maine restructures HFs


The University of Maine System allocated $5 million to Permal as part of a broad restructuring of the $127 million fund's asset mix.

The move was in tandem with investment consultant NEPC's asset allocation review for the university's managed investment pool, pension plan and operating cash fund. The consultant's return forecast projected lower returns than 2009 for most asset classes as the projected volatility for most assets are expected to be lower as well.

The recommended asset allocation options for the portfolio include an increased allocation to and further diversification of the hedge fund portfolio. The proposal also calls