Institutional Investors

Festa Lifeyrissjodur plans to boost hedge fund holdings

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Icelandic pension fund Festa Lifeyrissjodur will look to increase its hedge fund holdings on an opportunistic basis.

Although the $670 million plan will add to its allocation this is not a priority, as it is in the process of finalising its fiscal year 2012 targets.

But while there is no haste to add to hedge funds, the pension fund believes its current hedge fund investments – run in part by two fund of funds, Optima Fund Management and LGT – have served it well. It is on the lookout for further direct hedge fund additions.

Based in Reykjanes