{"id":40317,"date":"2014-01-30T08:10:17","date_gmt":"2014-01-30T13:10:17","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=40317"},"modified":"2014-01-30T08:32:13","modified_gmt":"2014-01-30T13:32:13","slug":"rhode-island-pulls-hedge-fund-allocations","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2014\/rhode-island-pulls-hedge-fund-allocations.html","title":{"rendered":"Rhode Island Pulls Hedge Fund Allocations"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/131519.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-40323\" alt=\"131519\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/131519.jpg\" width=\"311\" height=\"199\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/131519.jpg 1800w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/131519-300x191.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/01\/131519-1024x654.jpg 1024w\" sizes=\"auto, (max-width: 311px) 100vw, 311px\" \/><\/a>New York (HedgeCo.Net) &#8211; The Rhode Island State Investment Commission has voted to pull its\u00a0$50 million allocation out of \u00a0hedge fund Third Point.<\/p>\n<p>&#8220;The commission\u2019s decision was simply part of the usual monitoring and managing of the retirement portfolio and a step toward reducing risk in the portfolio\u2019s equity hedge fund allocation,&#8221; Joy Fox, spokeswoman for Rhode Island General Treasurer Gina Raimondo, said, according to the Providence Journal.<\/p>\n<p>The commission had also voted to liquidate two other hedge funds, Gracie Credit Opportunities Fund LP last January, 2013, and Wexford Spectrum Fund LP last month.<\/p>\n<p>The most recent valuation confirmed the following: (<a href=\"http:\/\/www.treasury.ri.gov\/documents\/sic\/SIC-01-14.pdf\" target=\"_blank\">Full Investment Meeting Agenda<\/a>)<\/p>\n<ul>\n<li>The funded ratio is 56.2 percent for state employees and 58.1 percent for teachers<\/li>\n<li>For FY2016 taxpayer contribution rates and projected dollar amounts are lower than anticipated: 23.64 percent for state employees and 23.14 percent for teachers<\/li>\n<li>FY2014 MERS plans that are over 80 percent funded will experience a .67 percent cost-of-living-adjustment (66 MERS plans fit this criteria)<\/li>\n<li>FY2013 investment performance was above plan expectations<\/li>\n<\/ul>\n<p>Hedge funds represent about 15 percent (of about $1.15 billion) of the $8.042-billion retirement portfolio in Rhode Island, the Journal reports.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The Rhode Island State Investment Commission has voted to pull its\u00a0$50 million allocation out of \u00a0hedge fund Third Point. &#8220;The commission\u2019s decision was simply part of the usual monitoring and managing of the retirement portfolio and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,3],"tags":[],"class_list":["post-40317","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40317","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=40317"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40317\/revisions"}],"predecessor-version":[{"id":40325,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40317\/revisions\/40325"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=40317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=40317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=40317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}