Pension Funds and Twitter

It was the National Association of Pension Funds annual conference this past week, so that's where the news is from today.

The NAPF has released “Hedge Funds Made Simple” guide to assist pension funds in understanding hedge funds and why pension funds should consider hedgies as part of their investment programme.  This follows the recent statement endorsing securities lending.  This is clearly a professional organization that is prepared to stand up for what it believes is in the best interests of its members irrespective of the political environment or media frenzy.  They should be congratulated.

Terrific news from the London Pension Fund Authority - they are returning to the securities lending market.  Their trustees had decided that there was no evidence that short selling was "evil".  According to the report the fund generates income of £700,000 per annum from lending securities.  A nice positive earner, particularly in these markets.

Despite the analysis and decision of LPFA, not everyone believes that trustees know enough about securities lending.  An old friend, John Piccitto has sent me this story.  The comments from Andrew Clearfield seem to be the same issues he has been banging on about for some time, updated with Lehman and cash re-investment references.  Oddly though, the article also states:

"According to Clearfield, there was no evidence so far that securities lending and short selling had a significant role in the crisis." 

Twitter

I am now also a Twitter addict.  Having started on Thursday without any real idea as to how I would use it, I am getting more ideas every moment.  The only issue I have now is: How do I fit 26 hours into a day? If you are interested in following me on Twitter, you can connect in the sidebar to the right.  (Slight technical problem as there are three links ... each works though and I am trying to clean it up.)