Mon, May 4, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

CalPERS 'strongly endorses' AIMA hedge fund relationship guide

Tuesday, May 31, 2011

Joseph Dear
Opalesque Industry Update - The California Public Employees’ Retirement System (CalPERS) has strongly endorsed a new guide by the Investor Steering Committee of the Alternative Investment Management Association (AIMA), the global hedge fund association, to promote better alignment of interests between institutional investors and hedge fund managers.

“Public pension funds and other institutional investors account for most of the capital within the hedge fund industry,” said Joseph Dear, CalPERS Chief Investment Officer. “This guide by AIMA’s Investor Steering Committee contains recommendations that will enhance our partnerships with fund managers. It’s a good benchmark for this maturing industry.”

The Investor Steering Committee paper, A Guide To Institutional Investors’ Views and Preferences Regarding Hedge Fund Operational Infrastructures recommends, for example, that:

Hedge funds’ investment objectives and strategies should describe the assets to be invested, geographic sectors where the assets may be limited and management trading style;

Hedge funds have predominantly independent boards of directors who are materially free of conflicts with the investment manager;

Hedge fund risk reporting should give investors the necessary tools to understand how much risk managers are utilizing within their portfolios;

Investors should be able to track the performance of hedge funds based on quantitative and qualitative reports that are updated at least monthly; and

Hedge fund managers should give investors the information they need to analyze a fund’s goals, strategy capacities and resources to achieve those goals.

CalPERS is the nation’s largest public pension fund with approximately $236 billion in market assets. It provides retirement benefits to more than 1.6 million State, public school, and local public agency employees, retirees, and their families, and health benefits to over 1.3 million members. The average CalPERS pension is $2,220 per month. For more information about CalPERS, visit www.calpers.ca.gov.

Source

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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. SEC charges funds of hedge funds Alpha Titans, executives, and auditor for improper expense allocations[more]

    Update: Please note the important updated information at the end of the article.The Securities and Exchange Commission today announced charges against a Santa Barbara, Calif.-based hedge fund advisory firm and two executives involved in improper allocations of fund assets to pay undisclose

  4. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

  5. Swiss group Pictet releases first public annual and financial reports[more]

    Benedicte Gravrand, Opalesque Geneva: Pictet Group, a Swiss private bank, has just released its first public annual report and financial report since it opened for business in Geneva in 1805. I

 

banner