Articles and Video on Hedge Funds
Portfolio choices doomed CalPERS' hedge fund program
trueCalPERS officials made ineffective portfolio construction choices for a dozen years before throwing in the towel on hedge funds, sources say.
Canada offers lessons for CalPERS, other U.S. funds
trueI was a member of a task force created in the late 1980s by the government of Ontario to recommend how the province's public-sector pension plans might be restructured for better performance.
Too complex for CalPERS
trueCalPERS' decision on Sept. 15 to close its $4 billion hedge fund program will lead to a lot of re-examination of the investment strategy by other asset owners.
BlueCrest spins off BlueTrend fund into own firm
trueBlueCrest Capital Management is spinning off its computer-driven hedge funds into a separate investment firm, just weeks after saying it would cut its management fees as assets drop.
Oklahoma Firefighters seeks GTAA, hedge fund-of-funds managers
trueOklahoma Firefighters Pension & Retirement System is searching for a hedge fund-of-funds manager and a global tactical asset allocation manager to run $50 million each.
Harvard's absolute-return program posts highest outperformance among its asset classes over 5 years
trueHarvard University's absolute-return program outperformed it benchmark by 3.9 percentage points annually over the five-year period ended June 30, topping all other asset classes.
Harvard endowment returns 15.4% for fiscal year
trueHarvard University's endowment posted a 15.4% return and was valued at $36.4 billion for the fiscal year ended June 30. The return was 82 basis points higher than the 14.6% return of the benchmark policy portfolio.
Ann Arbor Employees invests in 2 hedge funds, terminates Thornburg
trueAnn Arbor (Mich.) Employees’ Retirement System invested $9.4 million with 36 South Capital Advisors and $2.8 million with Och-Ziff Capital Management Group in hedge fund strategies managed by each firm.
Texas TRS directional hedge funds generate highest alpha in fund's external markets portfolio
trueIn the three-year period ended June 30, directional hedge funds generated annualized alpha of 4.6 percentage points – the highest of any portfolio in the Teacher Retirement System of Texas' external public markets program. Directional hedge funds generated one-year alpha of as of June 30 of 5.5 ...
Employee group wants North Carolina out of hedge funds
trueThe State Employees Association of North Carolina wants state Treasurer Janet Cowell to follow CalPERS’ lead and get out of hedge funds.
Hedge fund manager PEAK6 to go independent
truePEAK6 Advisors, which manages $2.3 billion in hedge fund assets, will spin out of parent company PEAK6 Investments on Sept. 30.
Illinois prepaid tuition plan redeeming Balestra Capital investment
trueIllinois Student Assistance Commission, Springfield, is redeeming its approximately $30 million investment in Balestra Spectrum Partners on behalf of the $1.1 billion College Illinois Trust Fund, the state's prepaid tuition program.
GAO: Large partnerships avoid IRS scrutiny
trueCongress should consider requiring large partnerships such as private equity and hedge funds to take steps to make it easier for the Internal Revenue Service to audit them and collect taxes due, the Government Accountability Office said in a congressional report delivered Thursday.
Bridgewater combines pure alpha and risk-parity beta in new strategy
trueBridgewater Associates introduced on Wednesday the firm's first new investment strategy since 1996.
Watch P&I's Resnick discuss CalPERS on PBS
truePensions & Investments' Executive Editor Amy Resnick appeared on PBS' “Nightly Business Report produced by CNBC” to discuss CalPERS' decision to eliminate its hedge fund portfolio.