Tuesday, 2 September 2014
Last updated 1 hour ago
Mar 2 2009 | 10:56am ET
The Universities Superannuation Scheme, the second-largest British pension fund, has made a hire for its planned move into hedge funds. The £23 billion (US$32.9 billion) plan named Emily Porter portfolio manager for the Absolute Return Strategies program, reporting to Mike Powell, head of alternative assets at USS.
Porter previously worked at Key Asset Management, where she worked as an investment director focusing on event-driven and distressed hedge fund research, as well as managing multi-strategy fund of funds portfolios. Prior to joining Key, Porter worked for Asset Alliance as a hedge fund senior analyst, and ABN AMRO Asset Management as a hedge fund analyst.
USS currently has around 10% invested in alternatives and is targeting a 20% allocation over the medium term. Since launching the program in 2006, USS has invested around £2 billion (US$2.9 billion) into alternative assets, principally in private equity and infrastructure investments. The Absolute Return Strategies program, which will invest in hedge funds, is expected to represent around a quarter of the total alternatives allocation.
“We believe that the current turmoil in the hedge fund industry represents a compelling investment opportunity for investors like USS who are able to take the long-term view,” said Powell. “The Absolute Return Strategies program will form a core part of our strategy for alternatives assets”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...