While UK local authorities continue to make allocations to
hedge funds, crunch time is approaching for those who went into
the asset class some years ago, seeking diversification in line
with the Myners' principles and protection from equity market
|Uncertain outlook: funds of funds with UK
mandates must up their game in 2012
Whether funds of funds have delivered that - and/or
delivered on their promises - is a moot point, but contrary to
some reports the mood among more experienced institutional
investors, while restive, seems fairly understanding.
Nevertheless, some will soon have to make tough decisions about
whether or not to continue with their incumbents.
Recently, the Wiltshire Pension Fund conducted a formal
review of its investment in Fauchier Partners' Jubilee Fund,
and decided to place the fund on watch for 12 months, pending a
review. David Anthony, head of pensions at Wiltshire, admits
the decision expresses a degree of...