WEST PALM BEACH, FL (HEDGECO.NET) – As hedge fund investment philosophy continues to make its way into the European Pension fund�s asset allocation formula, more pensions plans continue to seek outskilled hedge fund managers to invest with. According to published reports, London�s Borough Council will be allocating about US$30.5 million this coming January into a single fund of funds manager.Brent Borough is a pension plan for the local Government pension scheme.
According to the report, the hedge fund investment proposal as submitted by the Pension fund authority has been accepted. Details however, will need to be finalized regarding the selection of the suitable Fund of Funds manager in addition to the time frame for this asset allocation.
New surveys conducted by EPN show that increasing number of European Pension Funds are interested in hedge fund investment products. EPN surveyed nine mainstream investment managers overseeing about US$25 billion. The poll result shows that these managers have invested about US$9.5 billion in hedge fund management vehicles.
The Brent Scheme pension fund manages about US$600 million in pension fund assets. The fund is seeking alternative investments in light of the lackluster returns of traditional investments. A spokesperson for the firm also stated that these investment instruments would also enable the pension fund to achieve suitable diversification in its portfolios.
Paul Oranika
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HedgeCo.Net
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