U.K. Pension Cuts Madoff-Scarred Firm, Doubles IAM Investment

Oct 22 2010 | 12:56pm ET

A British pension fund has decided to double its investment with fund of hedge funds International Asset Management.

The Dorset County Pension Fund has redeemed its investment with Pioneer Alternative Investments and will put the money with IAM, HFMWeek reports. Prior to the move, IAM, Pioneer and Gottex Fund Management each managed an equal share of the £1.4 billion pension's 6% hedge fund allocation, or about US$25 million each.

"We decided to redeem from Pioneer last year due to the hedge fund's exposure to Bernard Madoff," Nick Buckland, the Dorset County Council's investment officer, said. It still hasn't received all of its money back from Pioneer, which had 10% of its assets invested with Madoff, who was convicted of running a US$65 billion Ponzi scheme.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.