Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
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Ohio schools pension extends Aksia contract
The $9bn Ohio School Employees Retirement System (Sers) has extended its contract with its hedge fund consultant, Aksia, as it concentrates its efforts on reviewing its general consultant needs.
Aksia’s contract was up for renewal on 15 August 2011, however, Ohio Sers will now look at the contract again after 31 December 2011.
Ohio Sers is required to regularly review its service provider contracts, according to Tim Barbour, spokesperson at Ohio Sers. “We didn’t want to do these two searches at the same time,” revealed Barbour.
He added that Sers is likely to search for a hedge fund consultant as part of its contract review requirements next year, with Aksia allowed to re-apply.
Summit Strategies is Sers’ current general investment consultant and advises on asset allocations, including the fund’s 15% hedge fund allocation.
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