Stockholm (HedgeNordic) – The Massachusetts State Pension Fund has decided to add Stockholm-based IPM to its roster of hedge fund managers, according to Reuters.

Trustees for the USD 60 billion fund voted to put up to USD 200 million in the IPM Systematic Macro Strategy. The money going into the program will be invested through a managed account structure, a more custom-tailored solution that allows for higher flexibility in terms of fees and transparency.

In a comment to HedgeNordic, Serge Houles, Executive Director and Head of Investment Strategy (pictured) says:

“We have invested significant resources over the last three years to present our macro strategy to key institutional investors across the US. We are very proud to have been selected by MassPRIM and please to see that this hard work is now paying off. Our success in the US is in line with the success we are having globally having recently won a number of new mandates both in Europe and Asia. These successes all reflect the increased appetite of investors for absolute return strategies offering uncorrelated returns streams, and that our macro strategy stands out in that universe.”