Institutional Investors

Ealing continues HF investigation

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The pension fund of the London Borough of Ealing is in the early stage research phase and continues to investigate hedge funds. Fund officials recently received training on the asset class from the fund's investment adviser, Hewitts.

At the end of March 2009, the date of its last published accounts, the $674 million pension fund was down -21.9% over one year. Although this was only very slightly below the fund's benchmark of -21.3% it is thought that sharp falls seen in equity markets have been partly responsible for a need to look at further asset diversification within its portfolio.