Wednesday, 22 October 2014
Last updated 13 hours ago
Mar 3 2011 | 10:49am ET
New York's Finest are dipping their toes into hedge funds.
The New York City Police Pension Fund has hired the Permal Group to begin investing in funds of hedge funds, the city comptroller's office said yesterday. The pension is still mulling how much to invest in the asset class, although it is expected to be about $150 million.
The police pension has more than $20 billion in assets.
"Subject to satisfactory negotiations, we expect to initiate a hedge fund-of-funds program which is to be followed by a series of direct investments in hedge funds," Lawrence Schloss, the city's chief investment officer, said.
Permal was picked at the pension's March 1 board meeting, although the hire must still be finalized.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...