Saturday, 28 March 2015
Last updated 17 hours ago
Mar 24 2006 | 12:00am ET
The $7 billion San Diego County Employees Retirement Association has terminated Numeric Investors from an $80 million quantitative long/short market control portfolio.
David Deutsch, cio, said the firm was terminated for people, process and performance issues and had been monitored for the past year after there was personnel turnover in the portfolio’s management team. He said the plan will hire a firm from the group of finalists that were involved in a search about a year ago, though he said he was not prepared to discuss the firms at this time.
Also, the plan moved approximately $30 million of a $90 million allocation to Freeman Associates from its long/short market neutral fund to its fair value fund as a means of diversification. Deutsch said the fair value fund has a low correlation to the long/short market neutral fund and will add alpha to the portfolio.
The plan also invested $9 million in Bain Capital Fund IX and $3 million in the Bain Capital IX Co-Investment Fund, as well as $13 million in TA Associates X and $8 million in the Related TA Subordinated Debt Fund II.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…