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
03/02/2010
Florida Uni looks at the secondary market
The Florida State University, which manages an endowment of $399m, is considering hedge fund purchases in the secondary market, revealed Ralph Alvarez, associate vice president for budget/planning
and financial services.
The move to enter the secondary market is part of a gradual repositioning of the endowments overall investment portfolio, with the long-term aim of investing exclusively in direct hedge fund strategies. A target Florida State is well on the way to achieving.
The endowment, which started investing in hedge funds in 2003 through funds of hedge funds (FoHFs), has slowly been adding direct hedge fund strategies to its portfolio, and will eventually phase out its FoHFs. “The original intention for the FoHFs was to diversify the portfolio. Now we want to be more targeted when it comes to investment style,” said Alvarez.
As of September 2009, Florida State University had $80m in hedge funds, a 20% allocation, across a universe of around 34 managers (two FoHFs). The investment committee is advised on its
investments by Cambridge Associates.
Firms such as Hedgebay, which was founded in 1999, provide a gateway for investors such as pensions and endowments to access
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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
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