Friday, 25 July 2014
Last updated 10 min ago
Oct 30 2013 | 10:05am ET
The Milwaukee County Employees' Retirement System's rebalancing act will cost its two funds of funds $17 million.
The $1.7 billion public pension plans to redeem $9.5 million from ABS Investment Management and $7.5 million from K2 Advisors in an effort to bring its hedge fund investments back down to its 10% target, Pensions & Investments reports. At the moment, the two funds of funds, Milwaukee's only hedge fund investments, account for 11% of its portfolio.
After the redemptions, ABS will manage $86.2 million for the system, and K2 $85.7 million.
The pension will decide in December or January how to spend the proceeds.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…