Sunday, 29 March 2015
Last updated 1 day 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 firstname.lastname@example.org.
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…