Institutional Investors

Lancashire mulls GTAA

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Lancashire County Pension Fund is considering an investment in a Global Tactical Asset Allocation (GTAA) manager in a move that would increase its existing alternatives allocation.

The pension fund, which has total assets of roughly $4.8 billion, invested around $160 million in a fund of hedge funds run by Gottex in September 2007.

The fund's investment panel is considering a GTAA investment as a complement to its existing alternatives holdings, thought to comprise a 3% allocation to hedge funds and a 5% allocation in private equity.

The possible move is understood