Wiltshire Puts Fauchier On Watch Over Performance

Apr 12 2012 | 10:29am ET

A British public pension fund is taking a closer look at its only fund of hedge funds manager.

The Wiltshire County Council put Fauchier Partners on 12-month watch. The £1.2 billion pension said it was concerned about the Jubilee Absolute Equity Fund's performance, HFMWeek reports.

While Wiltshire's board "still have confidence in the fund," Fauchier "hasn't lived up to its objectives," Wiltshire pension manager David Anthony told HFM.

The move comes as Mercer takes over as Wiltshire's new investment consultant. Mercer replaces Hymans Robertson.

Even if Wiltshire were to redeem its US$110 million from Fauchier, the pension would likely stick with funds of funds.

"Our trustees are wary of hedge funds and we are keen not to put all our eggs in one basket; we are more comfortable with a fund of hedge funds model because of the diversification it affords," Anthony explained.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

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

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of