Wednesday, 1 October 2014
Last updated 3 hours ago
Aug 24 2011 | 11:49am ET
The Los Angeles Fire and Police Pensions has fired two hedge funds, to the benefit of two others already in its portfolio.
The $11.2 billion public pension system has redeemed its entire investments from K2 Advisors and GAM Holding, $144 million and $54 million, respectively. Consultant RV Kuhns & Associates estimates that the move will save LAFPP $870,000 per year.
The $198 million redeemed will be handed over to Aetos Capital and Grosvenor Capital Management. It is unclear how much each existing manager will receive.
"The redistribution figures will be decided over time," Michael Perez, the pension's general manager, told HFMWeek. "It is yet to be worked out."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...