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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of