Cambridgeshire IFA’s Enable can help with all forms of asset management, sometimes it is interesting to note what other individuals and institutions are up to. Over the summer, the London Borough of Camden invested 5% of its assets, or about £40-£50m, with BlueCrest Capital Management in a fund-of-hedge-funds. BlueCrest’s brief is to invest the money in at least four underlying hedge funds, and outperform cash with a lower level of volatility than the stockmarket. Camden is now also considering investing another £50m with Brevan Howard, which came a “close second” to BlueCrest in a recent hedge-funds tender exercise, according to council documents.
Also over the summer, seven local authorities – the county councils of Norfolk, Buckinghamshire, Cambridgeshire, Derbyshire, Lincolnshire and Northamptonshire, along with the London Borough of Croydon – announced the results of their first-ever joint tender for actuarial firms. They added five firms – Aon Hewitt, Barnett Waddingham, Hymans Robertson, KPMG and Mercer – to a permanent shortlist, from which the participating pension funds will now pick candidates any time they want to re-tender their actuarial services contracts.
The seven funds, which oversee pensions assets of about £11bn between them, are shortly to announce further joint-searches for investment consultants and for custodian banks. However, according to Nicola Marks, head of the £2.2bn Norfolk fund, it is unlikely the process will ever be used for investment managers, as there are too many companies and too much variability in the services they offer.
Independent Financial Advice at a more personal level, can be accessed through Enable’s IFA’s to help you manage your assets most effectively.
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