Saturday, 31 January 2015
Last updated 22 hours ago
Jun 23 2006 | 8:37pm ET
The Missouri State Employees' Retirement System has approved more direct hedge fund investments at the expense of funds-of-funds. The move comes after the board approved increasing the plan's internal investment department staff to four.
The fund will hire a senior level person responsible for the hedge fund program, according to Christine Rackers, spokeswoman for the $7.1 billion plan. The program previously did not have a staff member designated to overseeing hedge fund investments. Information on the position should be posted to the plan's Web site (www.mosers.org) by July 5.
Interested parties can request information regarding the senior position from the plan's human resources director at email@example.com.
The fund has not decided whether to use an external search firm.
The fund currently has $1.6 billion invested in hedge funds within its alpha pool, of which half is invested through fund-of-hedge funds.
Rackers said "it is expected in the next five years [that] MOSERS will transition $400 million from fund-of-funds to direct investments in hedge funds." The fund is advised by Summit Strategies Group.
Jan 23 2015 | 1:00pm ET
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