London Pension Dismisses ‘Clever’ Hedge Fund Managers

Apr 26 2010 | 12:08pm ET

A London borough is showing that its renowned conservatism is not limited to politics.

The Royal Borough of Kensington and Chelsea’s pension fund has rejected a plan to move one-fifth of its assets into absolute return strategies. The £428 million plan’s investment committee said it was wary of “an approach which involved fund managers adopting ‘clever’ complicated investment mechanisms,” HFMWeek reports.

Currently, the only alternatives in Kensington and Chelsea’s portfolio is a 5% allocation to private equity and property.

The pension’s hedge fund reticence certainly puts it at odds with its neighbors. In November alone, two other London borough pensions launched searches for hedge fund managers.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?