Church Of England Pension Hires BlackRock, Bridgewater, Winton

Jul 27 2012 | 10:34am ET

The Church of England has invested a small amount of its £1.1 billion pension fund in three hedge fund managers.

The Church of England Pension Board awarded the mandates last year, it said in its annual reports. BlackRock Advisors, Bridgewater Associates and Winton Capital were the beneficiaries of the state church's largesse.

The hedge fund investments are part of the CoE's global tactical asset allocation portfolio, which makes up 6% of its total assets.

The three hedge funds picked "combine large parental backing and good returns and they're not Johnny-come-lately," Pierre Jameson, the pension's investment officer, told Reuters. "They've been around for a while, have an enviable long-term track record and in many ways we feel quite fortunate to be able to invest in them."

Those words stand in stark contrast to the fire-and-brimstone talk of two top Anglican clerics four years ago. The Archbishop of Canterbury, in his 2008 Easter sermon, took issue with greed and the "grabbing of things in the world," while the Bishop of Rochester suggested that hedge funds were "amoral forces" and warned that they "need to ensure that the poor are not disproportionately affected" if they wish to get to heaven.


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note