N.H. Pension Keeping An Eye On Gottex

Jul 14 2011 | 2:23am ET

The City of Manchester (N.H.) Employees' Contributory Retirement System seems to have it in for its hedge fund managers.

Earlier this year, the $154 million public pension fired Attalus Capital, blaming "lackluster" performance and "key-person risk." Now, Gottex Fund Management may be on the chopping block.

The Manchester pension is reviewing its Gottex investment after its investment consultant, NEPC, stopped recommending the firm to clients, HFMWeek reports. Despite NEPC's "neutral rating on them for existing investors," Manchester does not plan to cut ties with Gottex. At least not yet.

"If [assets under management] should suddenly begin to increase in correlation with a  decline in the rate of return… the question of replacing the manager would need to be revisited," the pension's minutes from its June meeting show.

Last month, Manchester hired Permal Group to replace Attalus.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...