Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
20/01/2010
Philadelphia City pension reviews asset allocations
The $3.5bn City of Philadelphia Municipal Pension is currently undergoing an asset allocation study before it continues with plans to hire more single manager hedge funds, Chris McDonough, chief
investment officer, told HFMWeek.
“The study, which is set to be completed at the end of March, will review all our asset allocations including the 6% allocation to hedge funds,” he said.
Following the study, the pension will continue with plans to split its hedge fund allocation 50/50 between funds of hedge funds (FoHFs) and direct managers, as HFMWeek reported last month.
The City of Philadelphia Board of Pensions and Retirement, which manages the fund, is advised on its hedge fund investment by Aksia.
Jake Walthour, head of advisory services and consultant to the city, recently left Aksia to join hedge fund Citadel, where he will raise money from institutional investors.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
Investor demand for CTAs is on the rise, says Agecroft Partners
Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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