Plymouth County (Mass.) Retirement System decided not to fund a 5%...

Plymouth County (Mass.) Retirement System decided not to fund a 5% hedge fund allocation and will instead keep the money in real estate, said John McLellan, county treasurer. The $480 million plan had added the allocation at the suggestion of consultant Wainwright Investment Counsel and conducted interviews with prospective hedge fund of funds managers, but trustees "felt uneasy" about proceeding, Mr. McLellan said. The plan will return to its former targets of 58% equity, 27% fixed income, 10% real estate and 5% private equity, he said.