U. Kentucky To Double Hedge Fund Investments

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.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of