Saturday, 30 August 2014
Last updated 1 day ago
Mar 27 2007 | 12:02pm ET
The $68 billion Ohio Public Employees Retirement System has issued a request for proposals for active currency overlay managers. The managers will oversee a stand-alone active currency mandate for the OPERS Opportunistic Portfolio, which is a part of the OPERS defined benefit plan.
OPERS’ is looking for a total of four managers to manage some $100 million in the asset class. The system’s initial allocation is $25 million per manager. Only developed market currencies will be permitted and both long-only and long/short stand-alone active currency strategies will be considered.
The system’s objective is to achieve absolute returns of 10% from the initial allocation, according to OPERS.
The benchmark for the currency overlay strategy will be OPERS actuarial rate of return (8%) plus a spread due to risk associated with the investment (2%), net of fees. The cash linked to this investment is expected to yield the three-month U.S. LIBOR rate and will not be part of the benchmark return calculation.
The deadline for the RFP, which can be accessed at the OPERS Web site, is April 10. Finalists will be reviewed sometime in May/June.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...