Friday, 31 October 2014
Last updated 15 hours ago
Sep 30 2010 | 10:18am ET
RAC offers breakdown coverage to British drivers. No word on whether its pension fund insured its relationship with its fund of funds manager, which has clearly broken down.
The £900 million RAC Pension Scheme has fired its only hedge fund manager, Blackstone Alternative Asset Management. The plan said it made the move to “de-risk” its portfolio, HFMWeek reports, and that it has no plan to invest in another hedge fund or fund of hedge funds.
Instead, it has moved the 5% of its assets managed by Blackstone to a liability-driven strategy run by Aviva Investors.
The RAC pension had invested with Blackstone since 2007.
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…
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