Sunday, 29 March 2015
Last updated 2 days 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…