Saturday, 20 September 2014
Last updated 18 hours ago
Apr 25 2011 | 11:25am ET
One Florida city is close to allowing its largest pension fund to begin investing in hedge funds and other alternative investments.
The Jacksonville City Council may vote tomorrow on a bill that would loosen key restrictions on the pension, allowing it to invest in short-sellers and to increase its allocation to alternatives to 10%. The pension currently has a 5% cap, but has never actually invested in a hedge or private equity fund.
The bill easily passed the two committees that considered it.
"Three years ago, I said no. Five years ago, I said no. 10 years ago, I said no," Mickey Miller, Jacksonville's finance director, told one of the committees. "The situation has changed dramatically."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.