‘Unconvinced’ Swiss Pension Abandons Hedge Funds

Jun 25 2010 | 7:07am ET

A Swiss public pension fund has been so underwhelmed by its hedge fund investments that it’s doing away with them entirely.

The BLVK Pensionskasse, which manages pension investments for the teachers of Bern, is in the process of liquidating its six-year-old hedge fund portfolio, managed by UBS. Once totaling 136 million Swiss francs, BLVK’s hedge fund investments stood at 46.3 million francs at the end of last year.

“The performance was unconvincing again in 2009, and the administration board decided to abandon hedge funds completely for the new strategic asset allocation from January 2010,” BLVK said in its annual report.

The UBS hedge fund portfolio lost 0.09% last year. It plummeted, along with the rest of the hedge fund industry, 21.8% in 2008.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of