Tuesday, 31 May 2016
Last updated 3 min ago
Jun 5 2008 | 2:00am ET
The Susquehanna County (Pa.) Retirement Board has doubled its allocation to hedge funds, charging its consultant with researching where it should put its money.
At a May 28 county commissioners meeting, the pension fund’s board elected to boost its hedge fund allocation from 5% to 10%. Its consultant, the Seneca Group—which credited its current hedge fund investment with the pension’s outperforming similar public plans—will offer recommendations on which hedge funds the board should consider its next quarterly report. The board may then reallocate immediately, or postpone the move until the end of the year.
Susquehanna County’s entire 5% allocation is currently with the Hatteras Fund, a closed fund of hedge funds.