Saturday, 31 January 2015
Last updated 11 hours ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…