Institutional Investors

London Pension Fund Authority steps into hedge funds


The London Pension Fund Authority (LPFA), one of the UK's largest local government pension schemes with around $5.8 billion in assets, has made a foray into hedge funds with an investment into Brevan Howard Master Fund.

While there are no immediate plans to make further moves into hedge funds, the plan's investment director does not rule out more investments if the right opportunity presents itself.

The scheme examines investment opportunities on a case-by-case basis and looks at its overall portfolio on a risk-adjusted basis, rather than maintaining rigid strategy allocation parameters. It places a