Friday, 29 August 2014
Last updated 13 hours ago
Mar 22 2010 | 2:06pm ET
One of the biggest hedge fund investors in the U.S. is cutting back on the asset class.
Yale University’s $16.3 billion endowment has reduced its hedge fund allocation from 21% to 15% to fund increases in its private equity and real estate and commodities portfolios. The former, Yale’s best performing asset class over the past decade, will rise from 21% to 26%, while the latter will be increased from 29% to 37% of the endowment’s assets.
“Alternative assets, by their very nature, tend to be less efficiently priced than traditional marketable securities, providing an opportunity to exploit market inefficiencies through active management,” the school wrote in a report released last week. “The endowment's long-time horizon is well-suited to exploiting illiquid, less-efficient markets such as venture capital, leveraged buyouts, oil and gas, timber and real estate.”
Yale made the allocation changes at its June 2009 investment committee meeting.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...