, Columnist
$2.15 Trillion is Right to Snub Hedge Funds
European pension fund managers have little appetite for allocating hard-earned retirement money to these underperformers. Why should they?
Britain’s got hedge funds and beaten-down stocks. Pension funds want neither.
Photographer: Bryn Colton/BloombergThis article is for subscribers only.
With global investment banks predicting a lackluster 2019 for financial market returns, you might expect the guardians of pension assets to chase performance either by seeking the alpha promised by hedge funds or warming to Brexit-beaten U.K. stocks. You’d be wrong on both counts.
Amundi SA, Europe's biggest fund manager, teamed up with CREATE-Research to survey pension managers across the European Union. The poll, published this week, covered 149 plans overseeing 1.89 trillion euros ($2.15 trillion).