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BBC Trust Picks Portfolio HF Managers

The British Broadcasting Corp. Pension Trust has selected Prisma Capital Partners and Cambridge Associates as its hedge funds portfolio managers.

The British Broadcasting Corp. Pension Trust (BBC Trust) has selected Prisma Capital Partners and Cambridge Associates as its hedge funds portfolio managers, HFMWeek reports. The $8.9 billion pension trust has allocated $272 million to investment adviser Cambridge and $94 million to fund-of-hedge-funds firm Prisma Capital.

The move comes as BBC continues to expand its investment diversification level in a bid to manage its $2.21 billion deficit. The trust will also consider fresh searches in the future. The scheme, which has more than 60,000 members, invests nearly 14.7 percent in alternative assets and 7 percent in hedge funds.

Click here for the story from HFMWeek.

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