Thursday, 2 October 2014
Last updated 1 hour ago
Jul 28 2006 | 4:34pm ET
Among the dozen pieces of legislation enacted by New York Governor George Pataki in his final legislative session was a law that could stand to benefit hedge funds: The percentage of the $128 billion of public pension fund assets that can invested in alternative investments — including hedge funds — is now 25%, up from 15%. State Comptroller Alan Hevesi sought to eliminate the cap entirely to give the state's pensions carte blanche to take advantage of "hot" asset classes, such as international equities.
"This is something we've been fighting for awhile," said John Chartier, spokesman. "There are certain types of investment vehicles we have not been able to take advantage of, for instance, the 15% limited how much we could put into international equities and limited the returns we could get."
According to the most recent statistics, dated March 31, 2005, New York State has $17.4 billion committed to alternative investments in the form of hedge funds, venture capital partnerships, corporate finance, international investments and special situations, just shy of the 15% cap. This means the state could invest another $15 billion in alternatives. However, Charier is quick to note the bill was not done with an "eye toward increasing alternatives," but to give "more flexibility in the way pensions invest funds."
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...