Alaska Retirement checks MAP for risk-analysis services
By Kevin Olsen | September 21, 2012 4:12 pm
Alaska Retirement Management Board, Juneau, hired MAP Alternative Asset Management Co. to provide investment risk-analysis services for the four defined benefit plans the board oversees with a combined $15.9 billion in assets, according to an audiocast of the board's Friday meeting.
An RFP was issued in July. The work was previously done internally, said Gary Bader, chief investment officer, at the time.
MAAMCO will calculate risk measurement of the board's holdings and provide comprehensive analysis on the retirement system's risk exposure. Key measures of risk will include return volatility measured by standard deviation, value at risk, stress tests, correlations, beta, duration and yield-curve risk.
Separately, the board rescinded a $50 million additional commitment to Prisma Capital Partners that was approved in April. Mr. Bader said Prisma was placed on watch following the announcement that it would be purchased by KKR. He said it was “inconsistent” to give $50 million to a manager that was just placed on watch. Prisma manages $145 million for the board in an absolute-return portfolio.