An extensive education and relationship building experience has resulted in the board of the $14 billion Indiana PERS fully outsourcing investment decision making to the executive staff. Amanda White spoke to executive director Terren Magid about the benefits of autonomous, and quick, investment decisions, particularly in relation to alternatives.
Neuberger Berman alternatives strategy outlook
This paper from the Neuberger Berman fund of hedge funds team analyses the near-term prospects of distressed investing and volatility arbitrage, offers observations on the importance of managing the beta profiles of long and short positions within long/short equity portfolios, and explores the effects of reduced competition on hedge fund managers.
Farmland comes of age for pension funds
As a relatively new and untapped asset class, farmland remains mysterious to some institutional investors. Greg Bright spoke to Charmion McBride, chief operating officer of Insight Investment, an affiliate manager of BNY Mellon Asset Management, about the benefits of the asset class which include uncorrelated returns and SRI considerations.
Australian Future Fund favours hedge funds
The A$66 billion ($58.8 billion) Australian Future Fund has tapped its cash portfolio to increase its exposure to alternatives, with cash dropping from 46 to 15 per cent in the past year, including an estimated allocation of $3.7 billion to three hedge fund managers in the fourth quarter of last year.
Appalled in Greenwich Connecticut
Managing and founding principal of AQR Capital Management, Cliff Asness, responds to President Obama’s call to limit the size and power of America’s banks.
Why institutions bypass hedge FoFs
More first-time investors in hedge funds are allocating to the strategies directly, rather than choosing hedge fund-of-funds (hedge FoFs), as investment talent circulates among institutions and investors observe the passive approach that many hedge FoFs apply to their portfolios. Simon Ruddick, managing director of hedge fund consultancy Albourne Partners spoke with Simon Mumme about this trend and the challenges of investing directly.
