Thursday, 18 December 2014
Last updated 4 hours ago
Jul 26 2011 | 12:34pm ET
Austin, Texas' finest are pulling all of the money they can out of hedge fund Excelsior Investors.
The City of Austin Police Retirement Fund last month voted to redeem its investment with Excelsior due to "poor performance," HFMWeek reports. But the $506.5 million public pension was only able to withdraw $1.2 million, as more than half of its investment, $1.5 million, remains side-pocketed.
The pension's Vernon Webb also said that its investment accounted for more than 10% of Excelsior's assets, a no-no for a public fund.
"It was a restriction that we just kept hitting," he told HFM.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.