Sat, Sep 23, 2017
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

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. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2

  3. Launches - Orchard launches new credit platform, ETN based on hedge fund to launch on the LSE[more]

    Orchard launches new credit platform Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution. De

  4. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  5. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N