Wednesday, 27 May 2015
Last updated 7 min ago
Mar 30 2011 | 8:53am ET
The Clwyd pension fund has hired a pair of hedge funds to manage £80 million in new allocations to the asset class.
The £1 billion plan, which covers employees of Flintshire County Council, picked BlueCrest Capital Management to handle a 3% tactical macro allocation and Duet Asset Management to run a 5% global long/short equity mandate, HFMWeek reports. The hedge funds will get the money on Friday, pension manager Philip Latham said.
The Welsh pension began its search for the two managers in September.
Clwyd also invests in two funds of hedge funds, Liongate Capital Management and State Street Global Advisors.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…