Phila. Quits Arden, Currency Fund

Jun 13 2011 | 11:39am ET

Philadelphia's city employees aren't relying on Arden Asset Management or AG Bisset to help fund their retirements anymore.

The $4.1 billion City of Philadelphia Municipal Pension Fund has redeemed its investments in both firms, HFMWeek reports. AG Bisset, a currency alpha fund, had been allocated $100 million, while Arden had been allocated half as much.

The withdrawals leave Philadelphia with just over $400 million in hedge fund investments.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...