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Thursday, January 27, 2022

Ontario Municipal to boost hedge fund investment

Date: Tuesday, January 27, 2004

Ontario Municipal Employees Retirement System, Toronto, will increase its hedge fund investment by US$228 million by the end of June, bringing the US$26 billion planís total hedge fund investments to about 2% of total assets, said Lawrence Newhook, portfolio manager, alternative investments. The additional allocation will be placed in direct hedge fund investments; searches will be conducted internally. The plan now has US$152 million invested in two hedge funds of funds, Mr. Newhook said. Staff members asked trustees to consider a total of 5% of plan assets in hedge funds, but trustees have not made a final decision