Institutional Investors

UK Church Commissioners spices up alts roster

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The $8 billion endowment of the Church Commissioners in the UK is looking to add to its hedge fund portfolio, as part of its relatively new dynamic asset allocation strategy that aims to reduce equity exposure.

The scheme will invest further in single manager hedge funds that meet its strict ethical guidelines, and is particularly looking for macro, long/short equity and credit strategies.

The church plan first began to invest in the asset class during 2010 and has seen its portfolio expand rapidly. In early 2012, its allocation to what it labels ‘multi-asset absolute return strategies’ stood at