Institutional Investors

Waltham Forest edges close to making first investment

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The $798 million Waltham Forest Pension Fund, based in east London in the UK, is set to make its first hedge fund allocation in the wake of an investment strategy review.

The scheme is moving into alternatives in a bid to diversify its portfolio, as it sees its current allocation of 74% to equities as too risky, particularly in the light of events in the equity markets in 2008 and 2009.

The equity portion of the fund’s portfolio will be cut to 59%, while alternatives as a whole will make up 26%.

While this will be spread across