San Bernardino County this month wrapped up its search for commodities managers. The $6.4 billion Employees Retirement Association has committed a total of $130 million to internally managed commodity structured notes and two external managers.
The pension committed $50 million to the notes, $50 million to Pinnacle’s Natural Resources Fund and $30 million to Lehman/Greshman’s Enhanced Strategic Commodities Fund.
The plan decided to put 2% of its assets in commodities last year.
Gabriel KurlandBy Gabriel Kurland: On November 12, 2009, the U.K.’s Serious Fraud Office (“SFO”), an independent government department that investigates and prosecutes fraud and corruption cases, announced that it is probing the London-based, Dynamic Decisions Capital Management Ltd., after the matter was referred to it by the Financial Services Authority. More...
Ireland has launched the EUR 26 million ($40 million) Bank of Ireland Seed and Early Stage Equity Fund to invest in startup and early stage companies. More...