Massachusetts state pension fund ups hedge fund allocation

BOSTON – The Massachusetts state pension fund is planning to invest an additional 5% of its assets under management into hedge funds in 2005, according to the fund’s 2002-elected treasurer Timothy Cahill. The $34.7bn fund already has 5% invested in fund of hedge funds (FoHF) but this new allocation will be for direct hedge fund investment. "I know when I say this that my office will be overrun with hedge fund managers but I enjoy meeting them," says Cahill. "I am benchmarking our pension