Sunday, 29 March 2015
Last updated 1 day ago
Feb 19 2013 | 9:00am ET
Danish pension fund ATP isn't stopping at the closure of its internal hedge fund unit.
The US$112 billion pension manager will merge its hedge fund platform into its main portfolio, the Financial Times reports. The move follows ATP's decision to close its US$1.9 billion ATP Alpha unit and part ways with its 15 portfolio managers in December.
ATP's acting chief, Henrik Gade Jepsen, said the pension would seek out cheaper and more transparent alternative beta strategies to replace the hedge funds.
"I'm not saying that alpha [no longer exists], but it is very difficult, time-consuming and expensive to extract," Gade Jepsen told the FT.
The move will indeed save ATP money; its investment team now numbers only 18, down from 35.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…