Editor's view: 29 July 2010
Like Paris in the spring, the lure of the Ucits space is proving a heady experience for many managers. First Europe fell for the charms of these onshore products, now the Americans are joining in a communal swoon.
15/12/2009
Ontario uni redeems from Northwater
The University of Western Ontario (UWO) is redeeming assets from the only hedge fund within its $375m endowment portfolio.
According to the minutes of the investment committee meeting at the end of September, the University is in the process of redeeming its Northwater Capital Management hedge fund investments.
The withdrawal process is set to be completed by 2014. It has not been confirmed whether the university will reallocate the assets to other hedge funds.
As at 30 June 2009, the endowment had $11m remaining in Northwater, a Toronto-based fund of hedge funds manager. Daniel Mills, managing director, hedge fund portfolio management and chief investment officer at Northwater is a UWO alumnus.
In October this year, it was announced in the media that Crestline Investors acquired some assets related to Northwater’s FoHF and beta overlay investment management businesses.
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Comment: Amy B Hirsch
"It is imperative that investors of all types ensure they understand the relationship between the introducing party and the manager"
Investors sit tight on impaired assets
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