Tuesday, 30 September 2014
Last updated 8 hours ago
Apr 29 2010 | 12:15pm ET
The University of Maine System’s Operating Fund has added a new fund of hedge funds manager to its portfolio.
The $236 million fund has given a $5 million allocation to the Permal Group.
As of Dec. 31 2009, the Operating Fund had a monthly net of fees return of 0.5%, and a trailing one year rate of return of 10.3%. In a February board meeding, the fund approved new policy targets which are a 25% Liquidity Pool, a 50% Income Pool, and a 25% Total Return Pool. The implementation is to be phased in over time.
Correction: An earlier version of the article that was based on an inaccurate media report stated that the Operating Fund was still waiting for the bulk of its investment in a different hedge fund to be redeemed. That vehicle, the Commonfund Absolute Return Fund, which closed in June, has actually returned over 98.7% of the money it owes to the University of Maine System’s Operating Fund, with the rest scheduled to be returned this year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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