By Pirkko Juntunen
The UK's National
Association of Pension Funds launched a guide to hedge funds
for pension funds, Hedge Funds Made Simple, at its recent
annual investment conference in Edinburgh.
Hedge funds were on the agenda, and at one of the sessions
the advantages of investing directly in hedge funds versus
taking the fund of hedge funds route was the hot topic of
discussion. The Universities Superannuation Scheme - with
assets of over $52 billion, one of the largest pension funds in
the country - talked about its experience in its move to
allocate directly with the support of Albourne Partners.
In the session entitled 'Fighting The Fee Drag', Mike
Powell, head of alternative investments at USS said he believes
that the trend in the UK will be towards direct hedge
investments. The fund has $1.6 billion across 17 hedge funds
and the experience so far has been good. The...