Tuesday, 30 September 2014
Last updated 2 hours ago
Jul 25 2012 | 9:59am ET
A multi-billion euro Dutch pension fund is getting out of hedge funds after suffering losses on the asset class last year.
The TNO pension fund, which manages the retirement assets of the Dutch institute for applied technical research, plans to redeem its entire hedge fund portfolio, which accounts for 2.9% of its €2.4 billion in assets. "Because research has shown we can get a comparable risk/return profile with traditional asset classes, we have said goodbye to hedge funds for the time being," the pension said in its annual report.
The performance of TNO's hedge funds didn't help, either: They lost 7.2% in 2011, while the pension overall returned 6.6%, Investment & Pensions Europe reports.
The hedge fund divestment comes as TNO reduces both its risk and active management. The pension said it had replaced its active equity mandates with passive ones to combat "decreasing performance and the relatively high costs of active management."
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...