Calpers

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 ...
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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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UK Hedge Funds Paid Record Taxes in 2014, Says Group

An industry trade association reported this week that UK hedge funds paid a record amount of taxes in 2014 – and that the industry paid over $2.5 billion more in taxes last year than in 2009. The report comes from the Alternative Investment Management Association, a global hedge fund trade association. From ValueWalk: The report indicated that the ...
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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 ...
Golden Gate Bridge

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 ...
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How Hedge Funds Keep Winning Clients Despite Prolonged Slump

The average hedge fund has returned 5.1 percent annually over the last 10 years, according to HFR, a hedge fund data firm. The investment vehicle has even been outperformed by many “balanced” mutual funds. But the flow of clients to hedge funds isn’t slowing down, which begs the question: how do hedge funds keep winning clients when performance ...
Calpers

For CalPERS CIO, Lack of Stock and Bond Experience Not a Problem

The LA Times on Sunday published an interesting and thorough profile of CalPERS chief investment officer Ted Eliopoulos. It chronicles Eliopoulos’ beginnings as an Ivy League tennis star, his appointment to CIO of the country’s largest public pension fund, and his headline-making decision to pull out from hedge funds. The piece also dives into ...
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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 ...
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University of California Snags CIO from Sacramento Pension

The University of California has hired former Sacramento County pension chief Scott Chan, according to Chief Investment Officer. Chan, who will reportedly start on February 17, will be the University’s managing director of public equity. More from Chief Investment Officer: Chan has been named senior managing director of public equity, responsible ...
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