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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR