| The PERAC Investment
Unit has developed four investment guidelines which
are intended to offer the retirement boards increased
flexibility with which to accomplish their investment
objectives.
The guidelines pertain to:
|
1. |
Expediting
the ability of a system to subscribe to a new
offering by an alternative assets partnership
manager with whom it has previously invested. |
|
|
|
|
2. |
Permitting
a modest modification to an investment manager’s
mandate in certain cases. |
| |
|
3. |
Allowing
the limited use of certain interest rate financial
futures and options solely as a duration management
tool within an investment manager’s mandated
duration range, and allowing the limited use of
equity index financial futures and options as
a short-term liquidity tool within a manager’s
existing mandate. |
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4. |
Governing and regulating investment in hedge fund strategies for Massachusetts local public retirement systems. |
Boards may follow these
guidelines subject to PERAC approval of an appropriate
supplementary regulation request and the submission
of other required information. Please address any
questions or comments to the PERAC Investment Unit.
|
INVESTMENT
GUIDELINES 
