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Growth opportunities tempered by uncertain regulatory environment
trueChina's inexorable march to an open economy from a closed, tightly controlled one has been a double-edged sword for local fund management companies, expanding the scope and scale of their business opportunities while adding a huge element of guesswork to strategic planning.
Illinois SURS picks cash overlay manager, commits to alternatives
trueIllinois State Universities Retirement System hired Parametric Clifton to manage a notional exposure of between $300 million and $400 million in a cash overlay, while committing $150 million total to two other managers for alternatives.
U.K. official talks tough on Scottish currency question
trueThe U.K. government's stance that a currency union would not be an option between an independent Scotland and the rest of the U.K. “is not bluff, it is not bluster, and it is certainly not bullying,” according to Danny Alexander, chief secretary to the Treasury.
More funds eyeing active currency hedging
trueInstitutional investor demand for dynamic currency hedging strategies is growing, and U.S. investors — perennial wallflowers at the global hedging ball — might finally be ready to join the party, money managers say.
Texas County & District tacks on $130 million total to 2 funds
trueTexas County & District Retirement System, Austin, made a follow-on commitment of $100 million to York Global Credit Income Fund, confirmed spokesman Russ Rhea.
CalPERS will abandon passive currency hedging
trueCalPERS is axing its 22-year-old passive currency hedging program because it has had almost no effect on the returns or volatility of the $282.5 billion pension fund.
Illinois SURS gets six responses to cash overlay RFP, will pick two finalists
trueIllinois State Universities Retirement System, Champaign, received responses from Bank of New York Mellon, State Street Global Advisors, BlackRock, Northern Trust Investments, Parametric Clifton and Russell Investments to an RFP for managing $200 million to $500 million in exposure for cash overlay ...
Convergence of currencies is main theme of 4th quarter
trueThe risk story in the final quarter of 2013 was largely about currency, particularly beyond the U.S., according to the Axioma Insight Quarterly Risk Review.
Investors shift record amounts from U.S. stocks to bonds
trueInvestors shifted record amounts out of U.S. stock funds and into bonds, while withdrawing money from emerging-market equities for a 15th straight week, according to Citigroup Inc.
San Diego City Employees taps Investec for emerging markets debt
trueSan Diego City Employees' Retirement System hired Investec Asset Management to manage about $110 million in a new local currency emerging markets debt allocation, said Liza Crisafi, chief investment officer for the $6.3 billion pension fund.
Seattle City Employees signs Russell for cash overlay
trueSeattle City Employees' Retirement System hired Russell Investments as cash overlay manager.
Hedged ETPs looking to move beyond currency niche
trueMonetary policy, volatility and interest rate regimes, among other factors, have caught the attention of money managers offering exchange-traded products.
Watershed for FX managers: Diversify or die
trueThe five-year drought for currency investing claimed a major victim in October after FX Concepts lost nearly all of its assets under management over the past six years.
Vision Super goes with Adrian Lee for currency
trueVision Super hired Adrian Lee & Partners to actively manage currency exposures on the Melbourne-based superannuation fund's A$2.3 billion (US$2.2 billion) overseas investments.
Seattle City Employees seeks cash overlay manager
trueSeattle City Employees' Retirement System is searching for a cash overlay manager.