Institutional Investors

UK’s Havering pension considers unconstrained equity plan

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Unconstrained equity investing is gathering momentum among UK plans – an encouraging trend for those hedge funds that have set up UCITS III vehicles.

Latest to search is the London Borough of Havering Pension Fund, which is based in Romford, Essex. The $521 million local authority pension fund is looking to establish a framework comprising a number of unconstrained, active global equity managers, and says it is prepared to consider a wide range of investment styles. The investment objective will be substantial outperformance of the MSCI AC World Index – with a guideline