As part of my ongoing series on big funds you've never heard of, I think Ive found another big fund youve never heard of. Ready? Here we go:
- The fund is worth roughly $12 billion. So, yeah, it's big.
- The fund secures the defined benefit pensions of over 100,000 people, and it can trace its roots all the way back to 1925.
Any ideas? Onward:
- The funds asset allocation includes a strategic allocation of 5% to covered calls. (You dont see that everyday.)
- In fact, the funds permitted derivate instruments include: Futures; Options on stocks, indices, ETFs, and bonds; Currency forwards; Swaps; and .. hey why not ... Options on futures, swaps, and currency. (The fund is also considering an allocation to futures on options on swaps on currency, according to my imagination, but has not yet received approval.)
Any ideas? Still not sure? OK, here are a few final clues:
- The fund is looking to double the size of its investment team in the year ahead... from 3 people to 6 people.
- The fund headquarters are on... an Island.
Well if you dont know it by now, you never will. So without further ado, the 'big fund that Im betting youve never heard of is...
I think this is a cool one that's worth checking out, as its doing a lot of rather interesting things with its portfolio. In fact, if you're really searching around for some summer reading, I found this investment manual to be worthwhile. Anyway, thats all for this edition of BFYNHO. Until next time...