BAT Pension Drops HFs From Portfolio

British American Tobacco retirement system has removed hedge funds from its investment portfolio.

British American Tobacco (BAT) retirement system has removed hedge funds from its investment portfolio, Financial News reports. The pension fund had invested £70 million, or 5%, of its total portfolio in funds of hedge funds.

The retirement system has since started investing in private equity and infrastructure. The scheme, which has Mercer as its investment consultant, had around 9,000 members as of March last year.

Click here for the story from Financial News.

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