WSJ – One of Europe’s largest institutional investors has pulled out of funds of hedge funds, removing more than $500 million (EUR383 million) from the troubled sector, saying it doubts their utility and dislikes their lack of transparency.
The EUR11.8 billion ($15.4 billion) Rabobank Pensioenfonds, one of the 100 largest pension schemes in Europe, decided to pull out of funds of hedge funds and put the money into equities, according to its annual report, published last week.
