GPIF fee structure aligns interests
The world’s largest investor restructured how it pays its active mandates to get more certainty from managers. Its actions, which were taken after self-reflection, will affect the entire sector.
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A spotlight on hedge funds
A roundup of recent institutional investors' hedge fund activity.
Fees kill alpha from hedge funds
Many hedge fund portfolios perform well before costs but fall into negative alpha after charges are levied, Canadian firm CEM Benchmarking's analysis of nearly 400 large investors has found.
Thirst for data serves Mass PRIM
The $71.9 billion Mass PRIM pores over the numbers to be sure it pays active managers only for skill. That's just one way it uses intense analysis to deliver.
GPIF insists on paying only for alpha
Hiro Mizuno, CIO of the world's largest investor, told the CFA conference that in exchange for multi-year commitments its mandates would now claw back fees when firms don't reach alpha targets.
Markets main fear for CIOs: survey
Asset owners are lowering return targets, shrinking active long-only allocations and getting tough on fees as harsh outlooks persist, the annual Top1000funds.com/Casey Quirk survey reveals.
Fees