Wed, Jul 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Swiss institutions don’t like alternatives anymore and other Swiss news

Wednesday, February 13, 2013

Benedicte Gravrand, Opalesque Geneva -

Swiss institutional investors don’t like alternatives anymore

Apparently, institutional investors’ exposure to funds of hedge funds (FoHF) has decreased by half on average since the crisis.

However, some pension funds did keep an important allocation to FoHF, as for example Credit Suisse’s pension fund. Its 10.4% allocation corresponds to half of the fund’s total exposure to alternatives. The fund is up 7% YTD – but it is an exception to the rule, reports Swiss daily Le Temps. Another exception is found in Zurich City’s pension fund. Due to positive performance, its allocation to hedge funds went from 5.8% in 2008 to 7.9% in 2011 (and 4.6% in private equity and 2.9% in commodities).

UBS’s own pension fund has not had any hedge fund allocation since 2008. That year, it sold its hedge fund investments and replaced them with fixed income. The bank is not currently considering re-investing in hedge funds, but may do so in future, if only for diversification purposes. Swiss railways company CFF’s own pension fund decreased its hedge fund allocation down to 1.5% of the portfolio of late.

Institutional investors cite different reasons for divesting: congruence of returns between passive and active asset classes, high fees, and lack of transparen......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Despite current limits, robo-advisors will be preferred investment solution for retail, gain importance for affluent and high net worth[more]

    Matthias Knab, Opalesque: Flynt, a Swiss FinTech focusing on proprietary technology platform for private and institutional clients, has published a brief paper on "Investing in the world of robo-advice and passive instruments". As investors will become more reluctant to pay for investment advi

  2. Investing - Hedge fund CQS favors structured credit, Direct lending funds' fading all-weather appeal, Funds hunt for cracks in most-prized US shopping malls[more]

    Hedge fund CQS favors structured credit From BArrons.com: A hedge fund manager that can invest across the investment landscape says in his latest semi annual report this week that he's finding opportunities in structured credit -- particularly the shorter term, floating rate kind. Exampl

  3. Launches - Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle, Jersey players institutionalize first regulated crypto-currency hedge fund[more]

    Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle From Coindesk.com: The operators of a regulated, Jersey-based bitcoin hedge fund have officially closed a new $5 million fund aimed at investing in cryptocurrency tokens and initial coin offerings (ICOs). Backed by fun

  4. SWFs - China Wealth fund backs TPG lender as part of U.S. property push[more]

    From Bloomberg.com: China Investment Corp., the sovereign wealth fund that controls $814 billion in assets, is betting on U.S. real estate by investing in a commercial real estate lender formed by the money management firm TPG. In conjunction with last week's initial public offering of TPG RE Financ

  5. Seward & Kissel launches new compliance service[more]

    Bailey McCann, Opalesque New York: The law firm that formed the first hedge fund - Seward & Kissel - has launched a new compliance service for asset managers. Seward & Kissel Regulatory Compliance, or SKRC, offers full-scale regulatory compliance consulting solutions provided by the firm's attor