Lambeth Pension Fund in the UK is satisfied with the performance of its hedge fund allocation, which came last year as the result of a major transition across the entire scheme.
In early 2010 the $1.5 billion fund searched for two funds of hedge funds to fulfil a mandate of around $115 million. Over the year, the mandate was awarded to Pacific Alternative Asset Management Company and AllBlue, the listed vehicle run by London-based BlueCrest Capital Management.
The latter in particular has done well in the volatile markets seen so far this year. To the end of August,