Reuters.uk – Highway Insurance’s (HWY.L: Quote, Profile, Research) final-salary pensionscheme has decided to invest in alternative assets including private-equity and hedge funds, the company said on Wednesday.
The Ockham Pension Scheme has assets of 80 million pounds. Its trustees have been looking at the complex area of alternative assets for about a year now.
Sixty percent of the scheme’s asset are to be invested in a Diversified Growth Fund, which will target returns 4 percent above those can be achieved on UK government bonds.
“This portfolio will invest in a range of growth assets, including private equity, hedge funds, high yield and emerging market debt alongside equities and property,” the company said in a release.
The company declined to give a breakdown.
