Thu, May 23, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Alaska pension fund to stick with hedge funds

Monday, September 29, 2014

Komfie Manalo, Opalesque Asia:

Now some good news for hedge funds.

The $51bn Alaska Permanent Fund said it would stick with hedge funds and not follow the lead of California Public Employees' Retirement System (CalPERS) to completely divest its entire $4bn hedge fund program.

Alaska Permanent Fund Corp., executive director Mike Burns told Alaska News Dispatch that he understands CalPERS decision but they would not be following suit anytime soon.

"We think about it all the time," he said and added that while hedge funds have created "hedge" risk like insurance policy, big investors still look at the industry to balance their investment risk, especially looking at portfolios that would provide gains when the stock market is down.

He admitted that some hedge fund managers sometimes score big gains that allowed them huge paydays. "They're expensive," Burns added.

On Sept. 15, the U.S. largest pension system CalPERS, announced it would divest its entire $4bn hedge fund program. The pension said the program was too expensive and too complex to effectively move the needle for an already large portfolio. The staff recommendation, supported by the Investment Committee, will exit 24 hedge funds and six hedge fund-of-fun......................

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. Redemptions hit quant king AQR in performance slump[more]

    From Financial News: AQR Capital Management, one of the biggest quantitative fund managers, is undergoing a prolonged performance downturn that has led to investors withdrawing increasing amounts in 2019. The Connecticut-based firm, which manages both hedge funds and mainstream long-only funds,

  2. Investing: Hotshot active fund managers will soon have a way to play the ETF game, US hedge fund Coatue may lead $120m funding in Faasos parent, David Tepper's Appaloosa sharply boosts bet on U.S. stocks, 3 big-name pot stocks money managers dumped in the first quarter, Secretive investment firm Lone Pine Capital is quietly minting tech unicorns in Seattle, Hedge fund Marshall Wace is a secret winner in the Amazon-led $575m funding round for food-delivery company Deliveroo[more]

    Hotshot active fund managers will soon have a way to play the ETF game From CNBC: ActiveShares, a product built by financial innovation firm Precidian Investments, received an SEC nod that its so-called nontransparent ETFs should be approved. A marked break from the norm, nontransparent

  3. Tech: 'It's a cat-and-mouse game': The head of technology at $60bn hedge fund Two Sigma explains why cybersecurity is a bigger challenge than AI, Computer models won't beat the stock market any time soon[more]

    'It's a cat-and-mouse game': The head of technology at $60bn hedge fund Two Sigma explains why cybersecurity is a bigger challenge than AI From Business Insider: A big part of Alfred Spector's job is to think about the future. Spector, the chief technology officer at Two Sigma and head

  4. Activists: Voce Capital drops proxy fight with insurer Argo Group, Blackstone battles Elliott for QEP, Sony CEO stresses value of Sony pictures entertainment at strategy briefing[more]

    Voce Capital drops proxy fight with insurer Argo Group From Express News: San Francisco hedge fund Voce Capital Management has dropped its proxy fight with Argo Group International Holdings, the specialty insurance company that has its U.S headquarters in San Antonio. Voce blamed A

  5. People: Hedge funds raid BNP's shuttered prop desk amid talent race[more]

    From Bloomberg: BNP Paribas SA's closure of its proprietary-trading desk has triggered a hiring frenzy for the world's biggest hedge funds. Citadel has recruited Mathieu Gaveau, who was head of rates at BNP's Opera Trading Capital division until it was shut down in January. Paolo Nicolosi, a se