Worcester Eyes Portable Alpha

Dec 22 2005 | 10:36pm ET

The Worcester (Mass.) Retirement Board is in early discussions of a possible investment in portable alpha strategies.

James DelSignore, chairman of the $666 million plan, said its consultant, Meketa Investment Group, has been looking at the strategy for some time, however the plan cannot invest in portable alpha until the Public Employee Retirement Administration Commission, which provides oversight, guidance, monitoring and regulation of state plans, approves it first. DelSignore said he does not know the timeframe of a decision by PERAC. Worcester is leaning toward a conservative portable alpha investment, such as market-neutral.

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