Hedge funds cut back at LGPS
0A survey has found a 9% fall in the value of LGPS investments in hedge funds.
Reuters conducted an analysis of the final accounts of the ten largest local authority pension schemes in England and Wales for the financial year to March 2018.
The analysis showed reductions in hedge fund assets at five of the funds, while three reduced the number of hedge funds they invest in.
The LGPS move fits in with a wider move out of hedge funds, which have in general failed to perform since the financial crisis of 2008.
High fees have acted as a further deterrent to investment.
Closures of hedge funds outnumbered openings for the third year in a row in calendar 2018 according to database Eurekahedge which said 580 shut up shop, compared to 552 launches.
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