Dow Jones – Ardano, a pensions manager that looks after about £5bn in the UK and is a large investor in hedge funds, is considering a move into distressed debt strategies if and when the eurozone crisis moves toward resolution — believing the best managers will be able to make big gains.
At a briefing yesterday in London, Cardano — which advises pension funds as well as directly managing their money — was keen to get the message across that investors shouldn’t regard hedge funds as a single “asset class” to which they should have a permanent and inflexible allocation.
