Monday, 3 August 2015
Last updated 2 days ago
Apr 20 2011 | 11:01am ET
The Texas Permanent Schools Fund has put one hedge fund manager on watch and boosted its investment in another.
The $24.4 billion fund’s board of directors voted in January to put K2 Advisors on watch; the automatic move came because the $400 million separately managed account managed by K2 underperformed its benchmarks for three straight quarters.
In addition, Texas moved $85 million out of another of its managers, GAM Holding, and into Mesirow Financial, HFMWeek reports. Both funds of hedge funds now manage $300 million on behalf of the fund.
Texas has a total of five funds of funds managing separate accounts, managing a combined $2.46 billion.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…