Sunday, 21 September 2014
Last updated 2 days ago
Dec 15 2010 | 1:46am ET
The Barclays UK Retirement Fund's decision to set up its own asset management business could imperil its investments with credit hedge funds.
Stergios Saloustros, head of dynamic asset allocation at Oak Pensions Asset Management, told Reuters that "everything is under review" at the £18.2 billion plan. But he specified the Barclays pension's £800 million portfolio of credit hedge funds as potentially deserving of special scrutiny.
Another OPAM executive, chief investment officer Tony Broccardo, added that Towers Watson, the pension's credit hedge fund consultant, could lose its mandate, although Towers Watson will continue to handle its long-only credit portfolio.
OPAM has "the confidence and ability to do better" than Towers Watson in credit hedge funds, Saloustros told Reuters. "There are also quite a lot of fees savings to be made."
"As the team grows, we will take more accountability and more ownership of investment decisions," he added. "That's what I think we should do and what should be bringing good results."
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.