Mon, Dec 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

CalPERS announces additional $400m for emerging managers

Wednesday, April 27, 2011
Opalesque Industry Update - CalPERS Manager Development Program II (MDP II) announced on Wednesday that it has committed $400m to three emerging managers.

The pension fund has allocated $150m each in return for equity stakes and hopes that such investments will help nuture “potential diverse major players in the financial markets,” said Joseph Dear, CIO at CalPERS. The selected firms include France based institutional investment firm TOBAM, that specializes in quantitative core strategies, and California-based Victoria, that focuses its investing on emerging markets. The announcement also included news of an additional $100m to be given to Quotient, which has been in the MDP II program since 2008.

According to the firm’s website, TOBAM was founded in 2006 by Yves Choueifaty and his colleagues within Lehman Brothers Asset Management in Europe. The firm was taken private by employees in 2008. TOBAM’s flagship strategy is termed “Anti-Benchmark” and is a quant process that “provides a broad exposure to the available risk premia and avoids the concentration of risk that is found in Market Cap-Weighted benchmarks.”

Victoria is the firm founded by Josephine Jiménez in 2007. According to the firm's website "Victoria 1522 offers separately-managed accounts that enable institutional and high net worth individual investors to focus on areas of potential opportunity in emerging markets: frontier economies, small-cap companies, core (diversified) emerging markets, and select (concentrated) strategies." Jiminez is well known veteran of the emerging markets area, she has been investing in those markets since the late 1980s, when they were originally thought of as "frontier markets". She was manager of the first no-load mutual fund focused on emerging markets, the Montgomery Emerging Markets Fund.

Full Press Release

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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 - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar