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.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs 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…

Editor's Note