Tuesday, 21 October 2014
Last updated 10 hours ago
Nov 15 2007 | 11:26am ET
GAM, the $26.8 billion fund of hedge fund manager, has been hired by South Carolina Retirement System to manage a $750 million allocation to its GAM Diversity strategy.
Diversity is a $10 billion globally diversified, multi-strategy fund of hedge funds that includes between 60 to 80 underlying managers. The portfolio is split between equity and arbitrage strategies.
“South Carolina has made a fairly large entry into reallocating their assets so for the first time they’re beginning to work extensively with outside managers,” said Joe Gieger, a managing director at GAM.
South Carolina’s portfolio has undergone drastic changes since legislation was passed last year allowing the system to invest in alternatives. The system has allocated 30% of its $30 billion to alternatives, with 15% of assets going toward portable alpha strategies, 5% to private equity, 5% to real estate and 5% to global asset allocation strategies.
The system has reportedly hired about a dozen absolute-return managers, allocating some $4.5 billion to hedge funds of funds and multi-strategy hedge fund strategies, with another $1.5 billion split among four managers in directional hedge fund strategies.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. 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 ...