Monday, 30 November 2015
Last updated 4 hours ago
Apr 12 2012 | 10:29am ET
A British public pension fund is taking a closer look at its only fund of hedge funds manager.
The Wiltshire County Council put Fauchier Partners on 12-month watch. The £1.2 billion pension said it was concerned about the Jubilee Absolute Equity Fund's performance, HFMWeek reports.
While Wiltshire's board "still have confidence in the fund," Fauchier "hasn't lived up to its objectives," Wiltshire pension manager David Anthony told HFM.
The move comes as Mercer takes over as Wiltshire's new investment consultant. Mercer replaces Hymans Robertson.
Even if Wiltshire were to redeem its US$110 million from Fauchier, the pension would likely stick with funds of funds.
"Our trustees are wary of hedge funds and we are keen not to put all our eggs in one basket; we are more comfortable with a fund of hedge funds model because of the diversification it affords," Anthony explained.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…