Institutional Investors

UK’s Waltham Forest to allocate $39 million


Waltham Forest Pension Fund in the UK has signed off on its first $39 million hedge fund allocation, and will begin a search shortly.

The move was sparked by a shift in investment strategy that began early last year. At the time the scheme had an equity allocation of 74% and it was decided that this must be reduced, in light of the volatility that had been seen in equities during 2008 and 2009.

The new asset allocation plan will see the $778 million scheme’s equity component reduced to 59%, while alternatives – comprising property, GTAA, infrastructure and