FINalternatives- The $12.3 billion Montana Board of Investments is issuing a request for proposals for fund of hedge funds managers. Sort of.
The system’s executive director, Carroll South, and chief investment officer, Clifford Sheets, both recommend that the board authorize its staff to issue an RFP “without making any commitment to fund the managers, unless the board approves an allocation,” according to an internal memo.
The RFP will serve to enlighten the staff on hedge fund strategies and historical performance versus other asset classes, as well as help the staff in making a recommendation to its board on whether or not to enter into the asset class at its August meeting.
