Friday, 22 August 2014
Last updated 8 hours ago
Dec 20 2011 | 12:01pm ET
While many institutional investors are dropping funds of hedge funds in favor of direct hedge fund investing, the Vermont Pension Investment Council is going the other way.
The $3 billion public pension has decided to end its "shadow portfolio" of single-strategy managers, HFMWeek reports. Instead, it may pepper its existing fund of funds portfolio with direct investments, although the timeline for doing so "remains uncertain," chairman Stephen Rauh said.
Vermont never actually invested in single-strategy funds, and instead simply monitored several in an effort to educate itself about such investments. But, Rauh said, "the shadow portfolio did not prove to be a particularly effective education tool."
Instead, the VIPC will be "looking more closely at specific strategies," he told HFM.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note