Ohio School Employees Retirement System, Columbus, is temporarily halting its hedge fund investment program at $258 million, or 23% of its target allocation of 10% of plan assets. The plan has invested in 25 hedge fund managers to date.
The $11 billion systems board, at a meeting Sept. 26-27, approved suspending the direct hedge fund investment program until market turbulence calms down, confirmed Laurel Johnson, a spokeswoman.
Ms. Johnson stressed that the move is not permanent. The decision to allocate to hedge funds was made in February 2007.