{"id":11193,"date":"2009-08-06T00:00:00","date_gmt":"2009-08-06T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"massachusetts-cuts-hedge-funds-after-pension-loss","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/massachusetts-cuts-hedge-funds-after-pension-loss.html","title":{"rendered":"Massachusetts Cuts Hedge Funds After Pension Loss"},"content":{"rendered":"<p>Bloomberg &#8211; Massachusetts will cut investments in hedge funds after its public pension plan lost a record 24 percent on all assets in the fiscal year ended June 30.             <\/p>\n<p>The state pension plan&#8217;s board of trustees voted today to lower the amount of money invested in hedge funds to 8 percent, or about $3 billion of the $37.7 billion it oversaw at the end of June, from 12 percent, which is about $4.5 billion. The vote reversed a five-year effort by the pension system to boost returns by expanding such alternative investments.     <\/p>\n<p>&#8221;We all have to understand we&#8217;re making a bet on what assets will do well,&#8221; said state Treasurer Timothy Cahill, chairman of Massachusetts&#8217;s pension reserve investment management board. &ldquo;Ultimately, we don&#8217;t make decisions based on the short-term, but we get measured on the short-term.&rdquo;     <\/p>\n<p><strong><a title=\"Read Complete Article\" target=\"_blank\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&#038;sid=aoTyg2MYCvbI\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Massachusetts will cut investments in hedge funds after its public pension plan lost a record 24 percent on all assets in the fiscal year ended June 30. The state pension plan&#8217;s board of trustees voted today to lower [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4642,178,4439,8506,64,2786,9953,14986,11708,1562,6911,7388,4386,9925,14988,11183,6008,6910,4383,14987],"class_list":["post-11193","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-alternative-investments","tag-amount-of-money","tag-assets","tag-bet","tag-bloomberg","tag-board-of-trustees","tag-decisions","tag-fiscal-year-ended-june","tag-hedge-funds","tag-investment-management","tag-management-board","tag-massachusetts","tag-pension-plan","tag-pension-system","tag-public-pension","tag-rsquo","tag-s-board","tag-state-pension","tag-state-treasurer","tag-timothy-cahill"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11193"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11193\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}