Institutional Investors

UK’s Bedfordshire shifts to Hymans

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The $1.6 billion Bedfordshire County Council Pension Fund has changed its investment consultant, shifting from Hewitt to Hymans Robertson.

The pension fund is seen as one of the more innovative in the UK in terms of alternatives investment, having decided in 2004 to invest a sizeable proportion of its overall portfolio – around 14% – into alternatives, as a way of diversifying its equity exposure. The alternatives allocation was made with the help of then-consultant Watson Wyatt.

While a good portion of the fund’s alternatives portfolio is in property and commodities, the scheme does have three vehicles that