Australian Future Fund slashes cash for alternatives
From Financialstandard.com.au: The $66bn Future Fund has halved its 30% allocation to cash in three months - with alternative assets getting the biggest boost in allocation following the move.
The Future Fund's allocation to cash in September stood at 31.6%, but has since dropped to 15.5% by the end of December. The fund's cash holding was reduced from $18.9bn to $9.6bn during that period... Full article: Source
Pension schemes regain faith in hedge funds
From FT.com: … Hewitt Associates has seen inquiries from clients increase sharply as pension fund trustees scrabble to find high-performing investment strategies to help recoup losses suffered in 2008… full article (subscription required): Source
Comment: How America's universities became hedge funds
From Huffingtonpost.com: In August 2009, just one month after the state of California cut over a billion dollars from its higher education budget, the University of California (UC) turned around and lent the state $200 million. When journalists asked the UC president, Mark Yudof, how the university could lend millions of dollars to the state, while the school was raising student fees (tuition), furloughing employees, canceling classes, and laying off te......................
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