Hedge Funds

FrontPoint gets political on ERISA legislation


FrontPoint Partners is taking a political stand, expressing support for House legislation that would reform ERISA rules to allow corporate defined benefit pension plans to allocate more capital to hedge funds and managed futures traders - without triggering onerous rules that would force a change in fund structures.

In a letter penned by portfolio manager Michael Litt - and sent to investors and politicians - FrontPoint voiced support for a House-passed Pension Reform Bill over a version drafted by the Senate.

The key difference is that the House version includes an amendment that would increase the threshold for