Tuesday, 21 October 2014
Last updated 10 hours ago
Dec 11 2008 | 4:44am ET
Three Connecticut pension funds are set to begin investing in hedge funds despite the dismal performance most in the industry have suffered this year.
Despite being one of the top hedge fund centers in the world, Connecticut’s public pension funds do not currently invest in the asset class. But that is changing, as the Nutmeg State’s investment advisory council approved a plan to invest up to 8% of the three funds’ assets in hedge funds.
Connecticut’s public pension funds have been battered by the market turmoil this year, losing about one-fifth of their value since July. Connecticut State Treasurer Denise Nappier said the pension funds need the diversification hedge funds offer.
“This is the time to position our portfolio for the long term,” Nappier said. “I need that exposure as a diversifier.”
The three funds had $20.7 billion in assets at the end of October.
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 ...