Taking the high road to absolute advocacy
While a lot of pension funds still dither over whether or not to invest in hedge funds, General Motors Asset Management's head of research, Edgar Sullivan, puts the case and reasons for GMAM's step into absolute return in 2001
For most pension funds, investing in hedge funds comes at the end of a long journey, from detractor of the asset class, to skeptic to interested, to investor.
When Edgar Sullivan and his team at General Motors Asset Management began studying hedge funds around six years ago, he admits to being sceptical, but not totally dismissive, of absolute-return funds.
While not a complete convert to all that is absolute return, it is refreshing to hear his upbeat analysis of the 7% of GMAM's $100bn in
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