Fund of funds' performance continues to be under scrutiny as
institutional investors conduct their scheduled reviews. While
pension fund chiefs are taking a measured view, many flag up
concerns about the disappointing return profile they have seen
from some of their holdings.
The $2.5 billion Dorset County Pension Fund is to conduct a
full review later this year of its hedge fund portfolio. At its
most recent meeting in February, the investment committee noted
that hedge funds had been the most disappointing area of...