Hedge Funds Institutional Investors

Powys decides to invest in hedge funds


Powys County Council Pension Fund has taken the decision to invest in hedge funds and will start the European tender process within the next few months. The $458 million pension fund, based in Llandrindod, Wales, will look to invest around 5% of total assets, or between $20 million and $23 million, most likely in a fund of hedge funds.

The move comes in the wake of the appointment of Hewitt Associates as the fund's new investment consultant at the turn of the year, replacing Watson Wyatt.

According to the latest published accounts Powys' asset allocation mix was UK equities 19%,