Monday, 30 November 2015
Last updated 3 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."
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…