Hedge Funds Institutional Investors

West Midlands close to 8% target after BlueBay investment


The $11.8 billion West Midlands Pension Fund has continued to increase its hedge fund investments as it moves towards its 8% target via a mix of funds of funds and single-manager investments.

Its most recent investments include an allocation of $82 million to BlueBay Asset Management's long/short emerging market fixed-income fund and a $66 million investment in Goodhart Partners global equity long/short fund of funds, a vehicle which recently received an allocation from Railpen.

The plan shifted into the asset class in January 2009 and has moved swiftly to build up its portfolio. Holdings include vehicles from Aspect, BlueCrest,