Saturday, 25 October 2014
Last updated 23 hours 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."
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.