HFM InvestHedge Billion Dollar Club: H1 2017

Muted asset growth, driven by consolidation and focus on customisation, benefits largest players as smaller firms lose ground

Managed account platforms: Assets top $100bn

Providers see 11% increase in H1 2017, enjoying strongest run in five years

Data: FoHFs make positive start to H2 with a 0.7% July gain

Managed futures was the strongest performer with a 2.2% rise for the month

Profile: Florida State Retirement System

Hedge funds make up a core part of the $154bn pension’s strategic investment portfolio and could potentially get a boost in the coming years

Breaking out of the mould: When investors shun HF buckets

As more pension funds scrap dedicated hedge fund allocations in favour of using alternatives across their portfolios, the competition for assets is hotting up

HFM InvestHedge Hall of Fame

Industry contributions of five pros overseeing over $70bn to be honoured

Q&A: Exelon Corporation

Mark Koschik, senior PM and head of asset allocation for the $40bn Exelon Corporation Investment Office, on hedge fund due diligence and the growth in private credit

Data: FoHFs finish H1 17 up 2.5%

But managed futures tumble 5% in June to post one of the biggest monthly median losses on record

RIC watch: Grosvenor Capital Management

The Chicago giant’s multi-strategy holdings show plenty of active selection, with new allocations to Balyasny, Aspect Capital and ex-Tudor pro Ashwin Vasan

Profile: FoHF Tages Capital on new opportunities

HFM InvestHedge sits down with the $2.2bn firm to discuss its broadened product offerings following a busy 12 months

Profile: University of California Board of Regents

The Office of the CIO has been quietly building assets for the system’s endowment, pension and working capital. HFM InvestHedge looks at how staff, anticipating market shifts, are now upping the ante with their alternatives exposures

Is cap intro past its sell-by date?

HFM InvestHedge delves into the value-add prime brokerage service, much vaunted in its heyday but under increasing pressure, and asks if it still has value and if so, for whom?

Alaska Permanent Fund maps new direct route to hedge funds

Alaska Permanent Fund Corporation has ditched funds of funds in favour of seeking out direct hedge fund investments on its own

Will ‘crisis protection’ portfolios withstand the next crisis?

Consultants and asset managers are touting the diversifying benefits of risk mitigating strategies, but some see problems with the approach

Consultants refocus investors’ hedge fund aims to boost alpha generation

Consultants remain firmly entrenched at the centre of the institutional investor allocation process as investors increasingly discover hedge funds need

Toby Goodworth of bfinance assesses the new fund of sub-advisers trend

The ‘sub-adviser fund of hedge fund’ model is the latest innovation to disrupt the traditional multi-manager fund of hedge fund structure

Customisation: Too sweet a deal?

A burgeoning trend and arguably an indication of the industry’s institutionalisation; is customisation always a good idea?

Investor Appetite Indices: Distressed debt

A large cohort of established managers can command substantial allocations, Blue Lion Research and IRHalo reveal