Pennsylvania Turnpike medical trust assigns $10 million
By Rob Kozlowski | September 14, 2012 3:16 pm
Pennsylvania Turnpike Commission, Harrisburg, hired SSARIS Advisors to run $5 million in a hedge fund-of-funds portfolio and ASB Real Estate Investments to run $5 million in a core open-end real estate portfolio for its $160 million retiree medical trust, confirmed David Russell, director of manager research at the commission's investment consultant, Investment Performance Services.
RFPs were issued in February following a June 2011 asset-liability study by IPS that created a new asset allocation.
The trust's current targets are 50% equities, 30% fixed income and 5% each to commodities, hedge funds of funds, REITs and real estate.
Commission spokesman Carl DeFebo did not have further information by press time.