Wednesday, 25 November 2015
Last updated 5 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…