Tue, Oct 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

MassPRIM to move some of $5.6bn hedge fund portfolios into managed accounts

Thursday, June 19, 2014

Komfie Manalo, Opalesque Asia:

The $59bn Massachusetts Pension Reserves Investment Management Board (MassPRIM) wants to move some of its $5.6bn hedge funds portfolios into separately managed accounts as it also studies its option whether to invest in other strategies that mimic hedge fund returns at a lower cost.

MassPRIM currently allocates at least 9.5% or $5.6bn of its $59bn assets into some of the biggest hedge funds, including Larry Robbins, William Ackman, Paul Singer, Daniel Och and Andreas Halvorsen.

However, MassPRIM has been pulling back some of its hedge funds allocations, joining a growing trend amongst institutional investors, said Reuters. In December 2012, the pension terminated BlackRock from a nearly $1.1bn active core domestic fixed-income portfolio.

Michael Trotsky, a former hedge fund manager and is currently executive director at MassPRIM said, "That's the next frontier and we might be at the forefront of it. It will give us full transparency and the ability to better control the assets."

Trotsky explained the pension is looking at allocating to hedge fund replication strategies that mimic their returns but charge less fees. Hedge funds traditionally charge 2% management f......................

To view our full article Click here

Banner

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. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  2. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  3. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  4. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  5. Sparx optimistic about outlook for Japan[more]

    Benedicte Gravrand, Opalesque Geneva: According to SPARX, there are causes to be optimistic about the outlook for the Japanese market and the country's economy in general. Sparx Asset Management is a Tokyo-based asset manager, part of