Institutional Investors

Metal Box ups direct investments


Metal Box Pension Scheme, which handles the pension assets of employees of CarnaudMetalBox Group UK, has made a host of direct investments in hedge funds since deciding to pull out of its fund of funds holdings.

During 2009/10 it has invested in seven hedge funds: Brevan Howard, Ivory, Maverick, Och-Ziff, Odey and Plainfield, while fund of funds manager Caliburn Capital Partners was retained to provide access to niche strategies. Its hedge fund portfolio now stands at around $132 million, out of the total $2.3 billion scheme assets.

The decision to go direct was taken at the end of