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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

When Less is More: The Case for Concentrated Equity Strategies

Jun 1 2015 | 7:59am ET

The conventional wisdom is that wide diversification is the “holy grail,” as...

 

Sponsored Content

Editor's Note