Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
04/01/2012
Maryland State hires hedge fund consultant
The $35.4bn Maryland State Retirement Agency (MSRA) has hired Albourne America as a hedge fund investment consultant.
Albourne will advise investment staff on the Baltimore based system’s hedge fund portfolio, which represents roughly $2.5bn (7%) of assets overall.
MSRA uses both fund of hedge funds (FoHFs) and direct funds, in a diversified mix of strategies which currently comprises of: Bridgewater Pure Alpha, Bridgewater All Weather, PIMCO All Asset, BlackRock Global Ascent, Mellon Global Alpha, DGAM Diversified Strategies, and Rock Creek Potomac Fund.
“We look forward to working closely with Albourne in reviewing the existing absolute return portfolio and considering how to maximise its effectiveness going forward” said Melissa Moye, MSRA chief investment officer.
MSRA received approval to boost their original 7% hedge fund allowance to 15% in May, HFMWeek exclusively revealed at the time.
The retirement system caters for more than 127,000 retirees and 245,000 active and former members, across a number of groups, which includes state government employees, teachers and law enforcement
personnel.
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