Regulatory load mounts for European managers
Late last week in London, the current state of hedge fund industry regulation was ably summarised by panellists at The IMS Group Regulatory Forum
27/01/2010
Wisconsin University fund seeks market neutral FoHF
The $350m Trust Funds, managed by the University of Wisconsin System, is looking to add a new absolute return manager to its portfolio.
"We are looking for a manager that is as close as we can get to a market neutral, very low-to-zero beta fund. Most probably a fund of hedge funds (FoHFs)," said Doug Hoerr, director of finance for the Trust Funds.
The Trust Funds, the endowments for the university, have a hedge fund target of 10% to 15%, however, so far it has only invested 8.5%. Hoerr stated, "currently the only exposure we have to hedge funds is through GMO's multi-strategy FoHF."
GMO manages a 26.9% GTAA allocation, as well as managing emerging markets equity and opportunistic mandates for the university. According to the Q3 report for the university, hedge funds made up 31.5% of the GTAA strategy (see graph).
While there is no specific mandate for the new search, Hoerr estimates the total investment will be around 25m, and will most likely to go to one manager.
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Editor's view: 1 February 2012
It’s well known that our industry likes to be viewed as on-trend, an early adopter, and generally ahead of the curve
Comment: William Keunen
"The administration function will continue to expand its horizons to meet the demands of the increasingly complex environment"
The institutional outlook
A recent survey of institutional hedge fund allocators gives insight into current and future allocations
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