Friday, 29 August 2014
Last updated 12 hours ago
Aug 30 2011 | 12:03pm ET
One Connecticut pension plan is having second thoughts about Brevan Howard Asset Management.
The Town of Fairfield Joint Retirement Investment Board voted to award its first-ever commodities mandate to the hedge fund in May. But now the $273 million public pension has placed that award under review following due diligence conducted by its consultant.
Indeed, it seems likely that Fairfield will junk the planned $9 million Brevan Howard investment entirely: It has asked the consultant, Callan Associates, to "come back with recommendations on other commodities managers," HFMWeek reports.
After looking into the Brevan Howard Commodities Strategic Master Fund, Callan expressed "reservations," noting that the fund is "energy heavy." Brian Vahey, a member of the Fairfield board, told HFMWeek that "the board likes lower volatility."
Callan did have some nice things to say about Brevan Howard, saying its model "makes sense" and praising the firm's "strong risk management."
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...