All Alternatives articles – Page 130
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News
Deutsche hires UBS exec for hedge fund marketing
EUROPE – Deutsche Bank says it has hired a marketing executive from UBS as head of European distribution for its Deutsche Asset Management arm’s absolute return strategies unit.
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News
Hedge funds own 3.8% of UK market – SSGA
UK – State Street Global Advisors says it estimates that hedge funds own around 3.8% of the UK equity market.
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News
South Yorkshire scheme loses team member
UK – The South Yorkshire Pensions Authority, which manages £2.7bn (€4bn) of assets, is looking for an investment manager following the departure of one of its six-strong investment team.
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News
IPE-QUEST: Dutch scheme tenders portable alpha
NETHERLANDS – A Dutch investment consultant has tendered a multi-asset class portable alpha mandate worth at least €15m via IPE-Quest.
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News
France's FRR names private equity consultant
FRANCE - The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund has named a consultant to help it choose private equity managers.
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News
ING buys Slovakia pension fund for €35m
SLOVAKIA – Dutch banking group ING has signed an agreement to buy Slovakian private pension fund VSP Tatry Sympatica for €35m.
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News
Pension funds pull €1.6bn from Liontrust
UK – Pension funds pulled £1.1bn (€1.6bn) from equity specialist Liontrust Asset Management in the year to the end of March – hit by a move towards hedge funds.
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News
Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
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Features
A match made in heaven
In the aftermath of the bursting of the internet bubble, pension funds were forced to cope with an extremely unfavourable environment. Stock markets were plunging and interest rates were falling to historically low levels. Pension funds in general, and European pension funds in particular, have therefore seen the gap between ...
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Features
Too good to be true?
During our research of the hedge fund results, we analysed the 35 hedge fund categories available in the HFR database (www.hedgefund-research.com). The HFR database is one of the largest of its kind and covers approximately 4,150 hedge funds and fund of funds. From this database the HFRI indices are derived. ...
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Features
Getting it right first time
Following the poor returns of the last bear market, institutional investors have recognised the need for diversification in their investment portfolios. Post-Myners, many pension funds are seeking to match their liabilities by investing in alternative asset classes such as hedge funds. The mainstreaming of an industry that has traditionally been ...
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Features
Fighting fund fraud
Recently, Frankfurt’s public prosecutor began a criminal investigation into a senior employee at Phoenix Kapitaldienst, a German hedge fund manager that has now been told by the financial services regulator (BaFin) to cease trading. The employee is alleged to have siphoned off E700m from the fund. And while those hardest ...
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Features
Risk exposure stalls growth
As can be seen from table 1, the main hedge fund strategies all fell short of their long-term average performance in March. Three of the five strategies, namely convertible arbitrage, long/short equity and event driven, even posted negative returns. These disappointing returns might be explained by the exposure of hedge ...
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Features
Enemy at the gates
As institutional demand for hedge funds grows, not all providers will be able to meet the emerging standards for the industry, according to a recent report. Those firms that want to thrive in the maturing market will have to adopt new ways of doing business. Last year’s report, ‘Institutional Demand ...
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Features
Independence is driving force
When Long-Term Capital Management (LTCM) was on the brink of default in 1998, one area of its operations gave no cause for concern - its back office-processing infrastructure. This continued functioning smoothly, and ensured that no payments to creditors were missed and that it did not have to re-state its ...
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Features
Mushrooming demand
Demand for currency management and overlay has ballooned in the last two years as investors embrace it as an alterative source of return. As currency managers tune their services to the needs of pension funds and other institutions, the future of the sector is beginning to take shape. Currency overlay ...
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Features
Crunch year for pension funds
It would be wrong to make hasty conclusions about the value added by alternative investment strategies. Hedge funds should be allowed to show their worth over time. Nonetheless, this year could prove to be a turning point. Consultants Wilshire Associates managing director Howard Yata has suggested that it is too ...
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Features
Core satellite thinking in orbit
Funds of hedge funds are now pension funds’ preferred route into hedge fund investing. Of the €1.2bn invested in hedge funds by Europe’s 50 largest pension funds, €920m is in the hands of funds of hedge funds, according to Boston-based research consultancy Cerulli Associates. One effect of this has been ...
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Features
Fear of a bubble unfounded
The global hedge fund market has grown at a rate of circa 20% over the last four years, total assets under management reaching an estimated $1trn (e793bn) by year-end 2004. Inflows did slow, however, during the second half of 2004, not least because of the comparatively modest performance experienced in ...
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Features
Belgium starts to warm up
As a nation, Belgium comes way down the list of private equity investors in Europe. In 2003, the latest year for which figures are available, private equity investments equalled only 0.1% of gross domestic product, according to the European Venture Capital Association. That was less than half the European average ...
