Tuesday, 30 September 2014
Last updated 2 hours ago
Dec 3 2010 | 11:01am ET
As foundations and endowments move more of their money into hedge funds, the CFA Institute is suggesting that they invest less in funds that impose a lockup.
The institute's first Investment Management Code of Conduct for Endowments, Foundations and Charitable Organizations stresses that such institutions should "consider liquidity" in making investments. They should also consider imposing "limitations or restrictions on investments with defined capital lockup periods," even if such funds "meet the investment objectives and risk tolerance of the organization."
The voluntary code was approved by the CFA Institute last month. It seeks to offer a set of best practices for board members, staff and money managers.
Lockups should be avoided because they "may affect future members' ability to effectively manage the financial resources to meet the funding needs of the organization," the institute explained in the 28-page document.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...