Sunday, 28 December 2014
Last updated 19 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.