Norway's Ferd has continued to build its external manager programme, with investments in three more single managers.
The privately owned industrial and financial group began to invest in hedge funds in 2005 as part of its internal managers programme. It currently has around $600 million under management in the programme, around 45% of which is thought to be invested in hedge funds.
Ferd looks to build a balanced portfolio across a number of diversified strategies, with particular attention paid to the specific alpha-generation capabilities of individual managers. Because the group overall has large equity market exposure, the hedge fund