Thu, Jun 29, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

CalPERS to invest $500m in Standard Life’s Global Absolute Return Strategies

Friday, March 22, 2013
Opalesque Industry Update: The California Public Employees’ Retirement System (CalPERS) is investing $500M with Edinburgh, Scotland-based Standard Life Investments as part of its Multi-Asset Class (MAC) Partners Program.

Standard Life is the first of four external managers selected to partner with CalPERS in the MAC program.

“We’re excited to have Standard Life on board as our first partner,” said Joseph Dear, CalPERS Chief Investment Officer. “Standard Life’s approach presents us with an excellent opportunity to add value to our portfolio, and to our investment operations by bringing in an outside perspective as we work toward our long-term investment goals.”

Standard Life’s investment approach for the MAC fund is modeled on their Global Absolute Return Strategies (GARS) approach. GARS is based on the key beliefs that marginal investors have a short-term time horizon which leads to market inefficiencies, and that by taking a three-year market view, those inefficiencies can be taken advantage of to create positive investment outcomes.

"This innovative relationship, the first of its kind, presents a great opportunity for Standard Life Investments to work closely with the CalPERS investment team,” said Keith Skeoch, CEO of Standard Life Investments. “What is really exciting about the partnership is the knowledge exchange element of the program, and strong alignment of our interests with those of CalPERS and its participants. We look forward to a long and successful relationship.”

The MAC Program has two strategic objectives. First, the Program is intended to outperform the CalPERS total fund over a market cycle, using primarily public market assets, and doing so with lower volatility and less risk.

Secondly, the Program is expected to facilitate a transfer of meaningful information from the MAC Partners to CalPERS investment staff, to help develop scalable, sustainable, and efficient methods of increasing the likelihood of meeting long-term CalPERS investment return goals.

CalPERS

Press Release

BM

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. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  2. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  3. Investing - U.S. hedge fund in anonymous bet against Tesco shares, Hedge funds made repeated attempts to invest in Veneto banks, Steve Cohen's Point72 takes stake in struggling electronics retailer Conn's, Hedge fund Excalibur bets Riksbank will tighten by end of year[more]

    U.S. hedge fund in anonymous bet against Tesco shares From FT.com: A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules.

  4. Investing - In Amazon's shadow, hedge funds take aim at Brexit-hit retailers[more]

    From NYTimes.com: Hedge funds have significantly stepped up bets against Britain's traditional high street retailers, as the sector struggles with online competition, worries about a stretched consumer and weakening sales and profits. The risks were on full display on Tuesday when shares in Debenham

  5. Barclay Hedge Fund index gains 0.50% in May, 4.13% YTD[more]

    Hedge funds gained 0.50% in May according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 4.13% in 2017. The Barclay Hedge Fund Index has now been profitable for seven months in a row, with a cumulative gain of 6.10%. The Barclay Technology Index has gained 12.27% in the fi