Monday, 22 December 2014
Last updated 7 hours ago
May 14 2010 | 1:10am ET
A Michigan public pension fund has fired one of its fund of hedge funds managers due to poor performance.
The City of Southfield Fire and Police Retirement System has redeemed its $2 million investment with Muirfield Capital Management, HFMWeek reports. The money was awarded to the $200 million pension’s other two funds of funds, Attalus Capital and Nantucket Hedge Fund, which each received an addition $1 million.
Despite parting ways with one-third of its hedge fund managers, the Southfield system says it hopes to increase its exposure to alternatives. The pension is currently limited by state law to having just 5% of its assets in hedge funds and private equity funds.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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