(Opalesque) Commonfund, a $24.8 billion asset manager for endowments, foundations, and pensions, has cut back its allocations to hedge funds citing a desire to preserve liquidity as managers struggle to take advantage of market moves. In its recent outlook letter, the asset manager said that it is less concerned about managing volatility and more concerned about maintaining the liquidity its clients need to cover yearly spending.
Commonfund cools on hedge funds, eyes credit in 2019
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