CalPERS to Cut Investment Fees by 8 Percent Next Year

CalPERS calculates that it will cut investment-related fees by 8 percent in fiscal year 2015-16, according to a report by Bloomberg. The pension fund has been looking to cut costs recently by reducing the number of private equity managers it invests with and moving more investment management in-house. According to CalPERS’ proposed budget, obtained ...

Report: Hedge Fund Assets Will Continue Growing in 2015, But Executives Recognize Underperformance

A new survey, released Tuesday by Deutsche Bank, reveals that hedge fund executives expect hedge fund assets to grow by 7 percent and exceed $3 trillion in 2015, including $60 billion of net inflows. But the majority of executives and investors surveyed – 66 percent – also recognized that hedge funds underperformed in 2014. From the Wall Street ...
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Chart: How Institutional Investors Are Changing Their Allocations to Alternatives in 2015

Here’s a graphic that shows the percentage of institutional investors that are planning to change their target allocations to various alternative asset classes in 2015. When it comes to increasing target allocations, 39 percent of institutional investors say they are going to increase their private equity investments in 2015. Hedge funds may ...
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San Francisco Pension Approves 5 Percent Allocation to Hedge Funds

After months of discussion and delays, the San Francisco Employees Retirement System on Wednesday voted to invest up to 5 percent of its assets in hedge funds. The pension fund has not previously invested in hedge funds. Its investment staff had previously recommended a 10 and a 15 percent allocation, but the board voted 6-1 for a 5 percent investment. More ...
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San Francisco Pension Investment Staff Recommends Foray Into Hedge Funds

The investment staff of the San Francisco Employees’ Retirement System (SFERS) has recommended to the board that the system allocate up to 10 percent of its assets in hedge funds. SFERS has been waffling for a year over whether or not to put money into hedge funds, and what the allocation should be. From Bloomberg, via FinAlternatives: The San Francisco ...

Report: Hedge Funds Expect Pensions To Up Their Allocations in 2015

State Street has published a new report, titled The Alpha Game, which analyzes a survey that quizzed 235 hedge fund managers on what the future holds for pensions investing in hedge funds, and other industry trends. The majority of managers think pension funds will increase their hedge fund holdings over the next few years. Some key points, from ValueWalk: The ...

George Soros: Hedge Funds “Not a Winning Strategy” For Pensions

Hedge fund guru George Soros said at the Davos Economic Forum last week that he doesn’t think pension funds should be investing in hedge funds. He cited the current market, management fees and recent under-performance as reasons for his view. More from FinAlternatives: George Soros echoed Warren Buffett’s concerns about the intersection of hedge ...

Preqin: Hedge Funds Grew More Than Any Alternative in 2014

Hedge funds experienced the most asset growth of any alternative asset class in 2014, according to a Preqin report. Despite scrutiny over low returns and high expenses, investors put more money into hedge funds in 2014 than private equity, infrastructure or venture capital. More from Chief Investment Officer: Despite a disappointing year for returns ...
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Chart: Institutional Investors’ Planned Allocation To Hedge Funds Over the Next Three Years

An Ernst & Young survey asked institutional investors how they were planning to shift their hedge fund allocations over the next three years. The 2014 responses can be seen above, paired with responses to the same question from 2012 and 2013. Chart credit: Ernst & Young 2014 survey

Yves Smith on CalPERS’ Private Equity Review: Is It Enough?

On Thursday, Pensions & Investments broke the story that CalPERS was putting its private equity benchmarks under review. Beginning with the end of last fiscal year, the fund’s private equity portfolio has underperformed benchmarks over one year, three-year, five-year and ten-year periods [see the chart embedded in the post below]. CalPERS staff ...
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