Monday, 28 July 2014
Last updated 44 min ago
Mar 12 2007 | 11:19am ET
The $2.6 billion Cincinnati Retirement System has revamped its portfolio, bumping up its investments in hedge funds and private equity to 5% for each asset class. The system formerly had just 1.4% of its portfolio in alternative assets and Treasury cash.
In addition, the system recently allocated $40 million apiece to p.e. fund of funds shops Fort Washington Investment Advisors and Piper Jaffray’s Private Capital Group.
“We felt like we needed to diversify a little bit, and funds of funds give us a lot more diversity,” said executive director John Boudinot. He added that the system plans to allocate a further $80 million next year to other p.e. funds of funds.
As far as hedge funds are concerned, Boudinot said that the system “doesn’t really have much direction there yet” and anticipates a learning period before diving in next year. “This will be our first exposure and I believe we’re going to go into it in 2008 with 130/30 strategies,” Boudinot 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…