Iowa To Seek Portable Alpha

Jun 30 2006 | 5:55pm ET

The $17 billion Iowa Public Employees Retirement System will issue 2-3 RFPs for portable alpha managers over the next 12-18 months, with the first, which is for enhanced cash portable alpha managers, likely to be issued at the end of September.

The fund began receiving an education on portable alpha last year. Melinda Prince, executive assistant, said that that the board has not yet determined the allocation size to portable alpha and the plan and consultant Wilshire Associates are still in the planning stages regarding the selection process. She said hedge funds to be utilized in the portable alpha space will be limited to fund-of-hedge funds.

The plan will discuss the searches at its Sept. 21 board meeting and will likely approve its first search at that time. All RFPs are posted on the plan's Web site (www.ipers.org).

The money for portable alpha will come from a restructuring of the plan's $6.3 billion domestic equity portfolio, a move made to improve the plan's risk-adjusted ratio. The restructuring will not eliminate any current domestic equity strategies or managers but may reduce some allocations to current strategies.

The plan also has lowered its maximum dollar limit on calendar year private equity commitments to 2% of the fund's prior year market value as of June 30, plus the value of distributions received from the private equity portfolio during the prior fiscal year. The previous limit was 3% of the market value, with no adjustment for private equity investment distributions.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

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.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.