Monday, 20 October 2014
Last updated 27 min ago
Mar 8 2011 | 12:43pm ET
Germany's largest public pension fund is giving the Man Group a big vote of confidence with a €1.2 billion allocation to the firm's managed account programs.
The €50 billion Bayerische Versorgungskammer will begin allocating the money to Man over the course of the year. The pension is retaining the right to choose which managers Man invests its money with, as well as how its portfolio will be built.
"To be awarded a large mandate by a pension fund as progressive and sophisticated as BVK is a huge achievement for Man and testament to the strength of our managed account offering," CEO Peter Clarke said.
"We undertook a rigorous selection process for our managed account platform provider," BVK deputy head of alternative investments Dajana Brodmann said. "Man impressed us with the depth of their expertise, their long-standing experience with managed accounts and robustness of their risk management process."
Man no doubt hopes the BVK investment will help it to stem outflows, which it has continued to suffer even as the hedge fund industry as a whole has begun to rebuild its asset base. The firm suffered US$1 billion in net redemptions in the fourth quarter, all of it due to a single investor's decision to redeem more than US$1 billion.
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 ...