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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note