{"id":7132,"date":"2008-02-14T00:00:00","date_gmt":"2008-02-14T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"fear-of-embarrassment-fuels-funds-of-funds-expansion","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/02\/2008\/fear-of-embarrassment-fuels-funds-of-funds-expansion.html","title":{"rendered":"Fear of embarrassment fuels funds of funds expansion"},"content":{"rendered":"<p><span class=\"intro\">European funds of hedge funds are taking advantage of increasing demand from US pension schemes, which have grown wary of direct investment in hedge funds.<\/span><\/p>\n<p><span class=\"storytext\"><\/p>\n<p><span class=\"keywordsearch\">GAM<\/span>, a fund manager owned by Swiss bank <span class=\"keywordsearch\">Julius Baer<\/span>, opened its fund of hedge funds to institutional investors in the US two years ago and secured 20 mandates last year, including in November a $750m (&euro;513m) allocation from the <span class=\"keywordsearch\">South Carolina Retirement System<\/span>.<\/p>\n<p><span class=\"keywordsearch\">Man Investments<\/span>, part of UK-listed alternative investment provider <span class=\"keywordsearch\">Man Group<\/span>, is increasing staff in its US offices. Swiss fund manager <span class=\"keywordsearch\">Gottex<\/span> last month tapped <span class=\"keywordsearch\">Merrill Lynch<\/span> for a chief investment officer in the US.<\/p>\n<p><span class=\"keywordsearch\">Permal Group<\/span>, the hedge fund arm of US asset manager <span class=\"keywordsearch\">Legg Mason<\/span>, has also been hiring.<\/p>\n<p>Academics have sometimes criticized funds of hedge funds, saying their fees, charged in addition to the fees of underlying hedge fund managers, subtract too much from investment performance.<\/p>\n<p><\/span><a href=\"http:\/\/news.google.com\/news\/url?sa=T&#038;ct=us\/0-0&#038;fd=R&#038;url=http:\/\/www.financialnews-us.com\/%3Fpage%3Dushome%26contentid%3D2349777576&#038;cid=1131930088&#038;ei=Niq0R43-Do_sqgOR15nqCA\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European funds of hedge funds are taking advantage of increasing demand from US pension schemes, which have grown wary of direct investment in hedge funds. GAM, a fund manager owned by Swiss bank Julius Baer, opened its fund of hedge [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7132","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7132"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7132\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}