Hertfordshire Council Picks LGT For Alts. Mandate

Jan 29 2013 | 9:40am ET

A British public pension fund has made its first-ever hedge fund investment.

Fund of hedge funds LGT Capital Partners won the Hertfordshire County Council mandate, which is worth £280 million. Only £70 million of that can be invested in hedge funds, with the rest placed with other alternative asset classes, Bloomberg News reports.

"We didn't feel the portfolio had moved to where it needed to be," David Lloyd, head of the council's pensions committee, told Bloomberg. "We were fairly dominated by equity risk, and we thought a better balance was required."

The "diversified alternative mandate" will be funded by a reduction in Hertfordshire's stock holdings. It accounts for 11% of the pension's assets.

Pfäffikon, Switzerland-based LGT called the allocation "one of the largest mandates focused exclusively on alternative investments ever awarded by a U.K. local authority pension fund."


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.