The Pension Reserves Investment Trust Fund, Massachusetts’ state pension fund, hasn’t had much luck with hedge funds of late. The September 2006 blowup of Amaranth Advisors cost the plan $50 million. Then, when this summer’s subprime market meltdown led to the collapse of Sowood Capital Management, yet a further $30 million vanished from the pension fund’s alternatives portfolio.
Patriot State
Despite losing money in a couple of high-profile collapses, Massachusetts’ PRIT stands by hedge funds.
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