Wednesday, 22 October 2014
Last updated 12 sec ago
May 2 2011 | 12:22pm ET
Nashville's main public pension fund is set to invest $85 million in a hedge fund managed by former President George W. Bush's brother.
The Metro Pension Investment Committee is moving forward with plans to invest in Winston Partners after receiving legal clearance. There had been questions as to whether the Arlinton, Va.-based firm had properly completed the request for proposals for the allocation; it didn't mention that Marvin Bush was sued by shareholders of HCC Insurance Holdings, on whose board he served.
"Unfortunately, as we discussed, if Metro wanted information such as that described above regarding the Winston principal, the RFP simply did not ask the right question and Winston appears to have responded appropriately to the question posed in the RFP," law firm Baker Donelson wrote.
"We appreciate that the accuracy and appropriateness of our response was confirmed by a highly-respected law firm, particularly given our firm's well-earned reputation for integrity, compliance and transparency," Bush said.
The investment in Winston will be Metro's first, part of a $170 million hedge fund allocation plan.
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 ...