Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
Reuters – The UK Railways Pension Schemes, one of the UK’s largest plans, has invested 65 million pounds in London-based asset manager Goodhart Partners’ global long-short equity fund of hedge funds.
Railpen Investments, the fund manager of the industry-wide scheme with assets of over 15 billion pounds, has some 8 percent of its assets in hedge fund strategies.
”Goodhart’s Long-Short fund offers large institutions exposure to small and specialist hedge fund managers, with the degree of governance and due diligence these allocations require,” said Paul Jeffries, an investment analyst at Railpen.
Interactive Investor – Activist hedge fund Algebris has sold its stake in Italian insurer Assicurazione Generali SpA , a newspaper said on Tuesday, but a financial source said Algebris would attend the shareholder meeting this week.
Algebris head Davide Serra criticised Generali’s governance last year, a rare move among Italian shareholders, and lost his bid to appoint an auditor. He resumed his campaign last July by querying Generali investments.
MSN UK News – A hedge fund body has thrown its weight behind regular disclosure of large holdings and risks to regulators, as calls grow for greater scrutiny of the industry.
The Alternative Investment Management Association (AIMA), said on Tuesday it supported regulators being able to get information from large hedge funds to build up a regular picture of systemically significant holdings and risk exposure.
The move by AIMA, which represents more than 75 percent of hedge fund assets worldwide, comes with the industry under pressure for greater regulation and the Hedge Fund Standards Board (HFSB) facing criticism for the low number of funds signed up to its voluntary standards on governance and disclosure.
