Thursday, 26 March 2015
Last updated 1 hour ago
Oct 17 2013 | 1:56pm ET
Hedge funds are proving insufficient to keep the Nobel Prizes sufficiently rich.
The Nobel Foundation last year announced plans to boost its already-substantial allocation to hedge funds. But with hedge funds underperforming the broader markets again this year, the organization said it may seek charitable contributions to boost its endowment.
In 2012, the foundation slashed the value of a Nobel by 20%, the first reduction since 1949, but would like to return it to its previous level. And while executive director Lars Heikensten told Bloomberg News that the organization "should over course continue to try to improve our asset management, but I'm not sure that will be enough."
"There is a long-term problem if we want to raise the ambition level, which I'd like to see us do," Heikensten said. "It'll be difficult to save more and it will also be difficult to maintain costs at the current level. This indicates there will be a need for more money over time."
Some 94% of the Nobel Foundation's capital is from Alfred Nobel's original gift in 1896.
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…