Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.
Saturday, 3 December 2016
Last updated 17 hours ago
Oct 15 2012 | 9:31am ET
With $482 billion under management, it's not surprising that China's sovereign wealth fund prefers to invest in larger hedge funds.
“We tend to invest in large market funds because of our own size; small funds probably cost us the same amount of work,” said Hua Fan, the head of fixed income investment at the China Investment Corp. “With CIC’s unique position, we do have great access to hedge funds and can negotiate for lower fees.”
Fan made the remarks during a New York conference sponsored by the Chinese Finance Association on Sunday, reports Bloomberg. He said volatile markets and lower returns from fixed-income and other investments have driven investors to hedge funds.
“We do face growing challenges,” said Fan. “People all think equities are too volatile. Bonds don’t give you 5% return. So what we do? Lots of funds put money into hedge funds.”