Wednesday, 23 July 2014
Last updated 26 min ago
May 27 2010 | 3:58am ET
The Montana Board of Investments issued a request for proposals for funds of hedge funds almost two years ago. Apparently, the public pension fund manager didn’t like what it saw.
MBI has decided against awarding the mandate after finding the fees too high, the transparency too opaque and the liquidity too dry. Firms responding to the RFP offered “a constant flow of bad hedge fund news,” according to a memo obtained by Pensions & Investments.
“Perhaps the most troubling discovery was that three of the 24 RFP respondents had exposure to the Madoff ‘Ponzi’ scheme,” the memo said.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…