Saturday, 28 November 2015
Last updated 11 hours ago
Jan 26 2010 | 12:38pm ET
A major British pension fund is increasing its hedge fund investments fivefold, pouring more than £1.4 billion pounds into the asset class.
The £28 billion University Superannuation Scheme said it would invest that amount in fixed-income as it seeks to reduce its 70% equity exposure. But the pension’s chief investment officer said it would move a similar amount into hedge funds, which currently make up just 1% of the fund’s investments.
Roger Gray, who took over as CIO less than five months ago, told Reuters that USS has made its first active hedge fund investment totaling in the “hundreds of millions” of pounds. USS will increase its hedge fund investments to 5% of total assets, meaning the pension may hire up to 30 hedge fund managers over the next two years.
USS will also continue to invest in a hedge fund replication strategy managed by State Street.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…