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Britain's biggest local government pensions ditch hedge funds for wind farms

WorldNews Friday, 10 January 2020
Britain's biggest local government pensions ditch hedge funds for wind farmsLONDON — Local government pension schemes in Britain pulled money out of hedge funds last year, shifting cash to infrastructure projects such as wind farms and to private equity, a Reuters analysis of annual reports shows. Local government schemes, which are among the largest pension investors in Britain, slashed their investments in hedge funds by a third in 2019, amid concern about low returns and high fees, the analysis shows. The drop reflects a difficult year for hedge funds, with $65.86 billion yanked by investors globally in the year to March 2019 amid flat returns, according to data from eVestment. The FTSE 100 index rose...
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