Pa. County Plan Doubles Up on Hedge Funds
June 4, 2008
The Susquehanna County Retirement Fund has increased its allocation to hedge fund investments to 10%, up from the previous 5% the plan had allotted to the asset class, said Cathy Benedict, county treasurer and retirement board member.
Benedict said that the board agreed to the doubling of the hedge fund allocation after it was recommended by the plan's consultant, The Seneca Group. Seneca will present hedge fund recommendations to the board during its next quarterly report. At that time, the board will determine how to proceed from there.
The $12 million Pennsylvania’s plan’s current hedge fund assets are invested in a fund-of-funds run by Hatteras Investment Partners.
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