Monday, 6 July 2015
Last updated 6 hours ago
Sep 30 2010 | 10:18am ET
RAC offers breakdown coverage to British drivers. No word on whether its pension fund insured its relationship with its fund of funds manager, which has clearly broken down.
The £900 million RAC Pension Scheme has fired its only hedge fund manager, Blackstone Alternative Asset Management. The plan said it made the move to “de-risk” its portfolio, HFMWeek reports, and that it has no plan to invest in another hedge fund or fund of hedge funds.
Instead, it has moved the 5% of its assets managed by Blackstone to a liability-driven strategy run by Aviva Investors.
The RAC pension had invested with Blackstone since 2007.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…