Friday, 24 October 2014
Last updated 17 hours ago
Jun 7 2013 | 11:31am ET
One major public pension fund is doing away with its hedge fund portfolio—while keeping the hedge funds themselves on board.
The Employees Retirement System of Texas has scrapped its separate hedge fund allocation, Institutional Investor reports. The $24.9 billion pension will continue to invest in hedge funds, but has integrated them into its overall portfolio.
Hedge funds will now be considered part of major asset-class portfolios, such as equity and fixed-income.
ERS voted to integrate its hedge funds in February.
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 ...