London Pension Quits Hedge Funds, Man

Mar 24 2011 | 11:21am ET

One London neighborhood is none to happy with the Man Group.

The London Borough of Bexley's pensions committee has redeemed its only hedge fund investment, with Man's fund of hedge funds arm, Man Investments. The committee cited poor performance and a recent asset liability study, HFMWeek reports.

"Return on the original £10 million investment in a fund of hedge funds since 2006 had been disappointing," the committee's minutes said. "At the last meeting it had also been agreed that investment in hedge funds should not feature in the long-term asset allocation."

Bexley first invested with Man, then RMF Investment Management, in 2006. As recently as 2008, the pension mulled doubling its investment in the fund of funds.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of