Thursday, 23 October 2014
Last updated 24 min ago
Jul 20 2007 | 10:46am ET
The $12.5 billion Ohio Police & Fire Pension Fund is in its initial phase of searching for market neutral long/short managers as the fourth and final leg of its portable alpha program.
Since 2005, the system’s portable alpha program has allocated or committed $100 million each to active currency managers Mellon Capital Management and FX Concepts, approximately $315 million to global macro managers Bridgewater Associates and AQR Capital Management and $235 million to derivatives-based enhanced equity manager Western Asset Management.
“This is the fourth step in our portable alpha program that do include some hedge funds but not exclusively,” said spokesman Dave Graham. “Our target is to have the portable alpha strategy total 10% of our portfolio, which is currently $12.5 billion, and we hope to issue that at some point within the next few months but nothing has been developed yet. We’re not only waiting for board approval but what goes into the RFP and the specific details of what the search will be.”
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...