Monday, 20 April 2015
Last updated 6 hours ago
Jan 20 2011 | 1:05pm ET
Less than three years ago, a small Dutch pension fund dipped its toes into hedge funds. But the Stichting Total Pensioenfonds Netherlands appears to have been unimpressed.
The €250 million pension fund for energy company Total's Dutch employees plans to redeem its only hedge fund investment later this year. HFMWeek reports that the move is the result of a change in risk management strategy.
Total currently invests about 1% of its assets in a single fund of hedge funds manager. The pension did not identify the pink-slipped firm.
"We are still invested in hedge funds at the moment as we haven't yet found a suitable alternative," a source at the pension told HFM. The plan is set for its next investment review in May.
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…