Friday, 22 August 2014
Last updated 1 hour ago
Mar 10 2010 | 11:25am ET
Legal & General Investment Management’s multi-manager range has made its first investment in a hedge fund.
The firm has invested £20 million in GLG Partners’ new Alpha Select Fund, a UCITS III-compliant offering which is nearing capacity less than a month after its launch, despite the impending departure of one of its managers.
“We are happy to give them £20 million,” Alan Thein, co-manager of the LGIM multi-manager fund.
“This is our first move into the alternatives space, but this is a good way of leveraging into hedge funds,” he told the Financial Times.
Thein said LGIM had no concerns stemming from the upcoming retirement of GLG co-manager Jason Mackay.
“Nick Judge on the team has a bit more experience anyway,” he said. “But if John White”—the fund’s other manager—“was to go as well, that would change things completely.”
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note