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
28/07/2010
US university funds re-assess allocations
University endowments and foundation funds in the US have been quick to move back into the hedge fund space, following the climate of redemptions during the financial crisis.
As confidence in the sector returns, US university funds are reassessing their asset allocations and, as a result, the pace of investment is quickening as they look at more creative ways to use hedge funds, John Griswold executive director at the Commonfund Institute, told HFMWeek.
While many of the smaller endowments still ‘bucket’ hedge funds within an alternatives allocation, more investors are re-assessing their strategies and thinking of using a risk-based approach.
That means hedge funds can expect mandates coming from other areas of an investor’s portfolio including equity, fixed income and others.
Around 64% of US foundations actively invest in hedge funds today, according to research compiled by Prequin in June. A further 4% are considering making maiden allocations to hedge funds within the next 6-12 months, states the report.
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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"
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