Sat, May 26, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

UN pension fund is contemplating more investments in alternatives

Wednesday, June 10, 2015

Benedicte Gravrand, Opalesque Geneva:

Last week, the United Nations (UN) issued an EOI (request for expression of interest), saying the Investment Management Division of the UN Joint Staff Pension Fund was "seeking qualified banks to participate in a competitive solicitation for the provision of comprehensive Global Custody and Master Record Keeping services for the investments of the Fund."

The Fund now has over $54bn in assets under management (on behalf of more than 190,000 participants) primarily invested in publicly-traded equities and fixed income securities, with a small part in specialty funds such as real estate, emerging and frontier markets, private equity, infrastructure, and commodities.

What is relevant here to fund managers is that, according to the EOI, the fund is currently authorized to trade ETF contracts; it does not directly trade OTC derivatives or engage in short trading, but may do so in the future. Furthermore, it is now considering investments in other alternative assets such as futures/derivatives, hedge fund of funds, other real assets, and may take securities lending and collateral management into consideration. It is also authorized to hire external fund managers; currently its small cap equity investments are the only ones being externally managed.

Like CalPERS’ decision to move in the opposite direction, this is more symbolic than anything, ......................

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. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven