In this latest paper, Watson Wyatt, suggests some changes to redress the imbalance in private equity fees including changing the basis on which a manager sets its management fees; and that GPs should consider phasing in management fees over the investment period to reduce the significant fee drag from paying on commitments early in the life of a fund.
A concentrated bet on fewer, better GP relationships is paying off for one of Australia's largest superannuation funds. Built on selective manager and deal selection rather than a broad roster, the A$112 billion ($78 billion) Rest Super delivered private equity returns more than double the peer average last financial year, as the fund proactively courts top-tier PE firms instead of waiting to be approached.
The $141.8 billion Florida State Board of Administration has finalised a list of six timber managers, as it moves towards allocating capital to the timber asset class, as part of its strategic investments allocation. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
The European Union (EU) directive governing the marketing efforts of hedge funds was passed on Tuesday, and gives offshore managers little wriggle-room to claim further distribution powers within the political bloc. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
The latest performance persistence study by RogersCasey’s managing director, head of global portfolio solutions, Soonyong Park, which incorporates data from the volatile 2008 period, confirms the lack of persistence of returns in the equity asset management universes, and further, that it is more pronounced when long-term results are evaluated. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
The New Jersey Division of Investment, which manages the $67.3 billion in state pension funds and was the best-performing US fund last year, has made some dramatic changes to its asset allocation in line with its objective of relying less on public equities for returns.
This hot-off-the-press revised version (March 30) of The ABCs of Hedge Funds, which decomposes returns into three components – systematic market exposure (beta), value-added by hedge funds (alpha), and hedge fund fees (costs) – includes data up to the end of December 2009. Among other things it finds the universe of hedge funds produced a
The Yale endowment has a substantial and growing exposure to green investments with allocations in timberland, emerging markets and venture capital including more than $100 million in cleantech. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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