Wed, Jul 30, 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

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. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  4. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass