Tuesday, 21 October 2014
Last updated 6 hours ago
Jul 25 2008 | 5:12am ET
The $3 billion San Jose (Calif.) Police & Fire Department Retirement Plan is taking the plunge into alternatives and will begin searching for hedge fund and private equity managers within the next few months. The plan’s investment committee met earlier this month to hash out its allocation to hedge funds and private equity funds.
According to Ron Kumar, financial analyst, the plan, which has a 5% allocation to absolute return strategies, will invest in core (multi-strategy and fund of funds) and satellite (direct investment) managers. The plan is also utilizing core and satellite positions in its p.e. portfolio, allocating $30 million each both mezzanine and distressed p.e. funds.
“Alternatives is a good way to mitigate volatility,” said Kumar. “Just look at what’s been happening in the last six months.”
The plan’s consultant, NEPC, will be submitting potential managers to the plan’s board in the next few months.
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 ...