Friday, 28 November 2014
Last updated 1 day 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...