Wednesday, 17 September 2014
Last updated 31 min ago
Jul 20 2011 | 8:34am ET
CalPERS may reduce the number of alternative investment funds to which it allocates.
The $241.3 billion California Public Employees’ Retirement System says research shows 80% of its returns come from 55 of the 500 funds in which it invests under its alternative investment management program.
Real Desrochers, a senior investment officer for alt investment program, told Pensions & Investments the numbers show the pension needs a “more concentrated portfolio” in this space but said no decisions to terminate managers have been made. Desrochers said a full review of the program is underway and would be finished in September.
Although there may be too many cooks, the CalPERS AIM program did well during the year ending March 31, returning 25.34% to beat the benchmark of 20.58%. Overall, the entire fund earned 20.7% for the year ended June 30, thanks mostly to gains in stocks (which returned 30.2% for the year) and private equity (25.3%).
“Obviously the results are pleasing,” said Chief Investment Officer Joe Dear. “We are in the 20% club. It was a good year. We are back.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
There are two things currency analysts agree on: Currencies have never gone through such a period of low volatility and the dollar must lead the sector out of the current malaise.