Monday, 20 April 2015
Last updated 6 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."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…