Institutional Investors

West Midlands reviews benchmark to reflect changing market


The West Midlands Pension Fund, based in Wolverhampton in the UK, is looking to reformulate its Strategic Investment Allocation Benchmark in the light of tougher market conditions.

The fund is looking to review its benchmark, it says, in order to be more dynamic, given the range and nature of institutional opportunities coupled with a more challenging investment environment. It is unclear whether any new strategic role might involve an enhanced role for hedge funds or absolute return products.

The $11.8 billion pension fund, one of the largest in the UK, currently has a target for hedge fund investments of around