British corporate pensions added billions of pounds to their hedge fund investments last year, according to a new report.
U.K. pension schemes had £58.2 billion invested in hedge funds at the end of March, according to the Pension Protection Fund, a government agency. That's £12 billion more than the at the end of March 2012.
The report does not indicate how much of the increase was due to inflows, and how much to performance. But with hedge funds gaining in the mid-single digits last year, a substantial amount of the gain is likely new capital.
All told, British corporate pensions now entrust 5.2% of their £1.1 trillion in asets to hedge funds.