Wednesday, 30 July 2014
Last updated 13 hours ago
Apr 6 2011 | 10:47am ET
The University of Kentucky Endowment Fund is set to double the size of its hedge fund portfolio under a new asset allocation scheme.
The school approved a recommendation to double its target hedge fund allocation to 20% to cut “the projected risk of the endowment,” which stands at $920 million. The suggestion to boost hedge funds to one-fifth of the endowment was made by consultant RV Kuhns & Associates last year, HFMWeek reports.
The biggest beneficiary of the move is Grosvenor Asset Management, which formerly managed 4% of UK’s endowment but will now run 12%. All of the new allocation to that firm will be invested in “a separate fund of funds created for the University of Kentucky” called See Blue.
The school’s other two hedge fund managers, GAM Holding and Berens Capital Management, will each get an additional 1% of the endowment to manage, raising their allocations to 5% and 3%, respectively.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…