Institutional Investors

Port of London makes first move with $75m


The Port of London Authority Pension Fund, based in Gravesend, Kent, is understood to have made its first investment in hedge funds, via a fund of funds managed by JP Morgan and Prisma Partners in New York. The total allocation, split evenly, is around $75 million - roughly 20% of the pension scheme's total assets. The move came in the wake of one of the pension fund's scheduled asset/liability reviews.