Monday, 20 October 2014
Last updated 3 days ago
Jun 16 2011 | 10:58am ET
Knoxville, Tenn.'s municipal pension fund has found a successor to the recently-fired Cadogan Management.
The $470 million City of Knoxville Employee Pension fund has settled on Prisma Capital Partners, HFMWeek reports. The public pension plans to invest $10 million in the firm.
Prisma's success was due in part to its near-miss in Knoxville last year; the pension nearly picked it to replace Union Bancaire Privée for a different $10 million mandate, but ultimately gave that job to Blackstone Alternative Investment Management.
"The board was already familiar with the fund," executive director Michael Cherry told HFM.
Cherry said that Cadogan was terminated due to a decline in its performance. It was hired in 2007 to help Knoxville reduce its volatility amidst the financial crisis.
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 ...