Saturday, 25 April 2015
Last updated 18 hours ago
Apr 26 2010 | 12:08pm ET
A London borough is showing that its renowned conservatism is not limited to politics.
The Royal Borough of Kensington and Chelsea’s pension fund has rejected a plan to move one-fifth of its assets into absolute return strategies. The £428 million plan’s investment committee said it was wary of “an approach which involved fund managers adopting ‘clever’ complicated investment mechanisms,” HFMWeek reports.
Currently, the only alternatives in Kensington and Chelsea’s portfolio is a 5% allocation to private equity and property.
The pension’s hedge fund reticence certainly puts it at odds with its neighbors. In November alone, two other London borough pensions launched searches for hedge fund managers.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…