Thursday, 18 September 2014
Last updated 11 hours ago
Nov 8 2011 | 10:39am ET
The nation's largest public pension fund may vote to boost its already substantial hedge fund portfolio next year.
The $228.6 billion California Public Employees' Retirement System is launching its first review of its hedge fund program since Joseph Dear became chief investment officer two-and-a-half years ago. While the review has yet to begin, Dear said today that the outcome is all but assured.
"The outcome of [the review] could be a decision to increase the size of the program," he told Bloomberg News. "It could be to leave it where it is. I doubt it will result in a recommendation to shrink the size."
CalPERS currently invests $5.2 billion, or about 2% of its assets, in hedge funds, which were moved in July from the pension's public equity portfolio to its absolute return program.
Dear said that the hedge fund portfolio "demonstrated its value" in the third quarter, when CalPERS' global equity portfolio lost 18%, but its absolute return strategy fell only 2.5%.
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…
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