Thought Leadership

P.J. Kelly, CFA, principal, has been named Consultant of the Year as part of Money Management Letter’s Annual Public Pension Fund Awards for Excellence.

The hedge fund industry is turning from a seller’s to a buyer’s market as funds realize that they prefer more ‘sticky’ assets such as those from pensions, endowments, and foundations, says Keith Black, an associate at Ennnisknupp. He told its ‘A Sensible Approach to Investment Strategy’ conference that during the recent financial crisis, hedge funds were “really hurt” by the redemptions they had to make to high net worth and fund of funds investors. As a result, they started to switch their focus from those investors to pension funds, foundations, and endowments and were willing to make fee concessions, increase transparency, and provide more investor friendly structures to do so. This trend is also likely to accelerate because institutions now control the majority of hedge funds.
 

EnnisKnupp has announced several recent promotions at the firm including Scott McLerran, CFA, Rob Parkinson, and Shane Schurter to Associate. All three professionals manage consulting assignments for several retainer and project clients and contribute to the firm’s consulting efforts in defined contribution, private equity, and investment policy services, respectively.

“I am delighted to recognize the substantial achievements of Scott, Rob, and Shane by welcoming them as Associates of the firm. We are quite fortunate to have these extremely talented individuals at EnnisKnupp,” said Stephen Cummings, President and CEO.