WEST PALM BEACH, FL (www.HedgeCo.Net) – The Dorset County Council Pension Scheme has chosen a new fund of funds manager to oversee the fund\u00c3\u00af\u00c2\u00bf\u00c2\u00bds diversified hedge fund portfolio. Nick Buckland, theinvestment officer of the fund said \u00c3\u00af\u00c2\u00bf\u00c2\u00bdthe move is the latest of three fund-of-hedge-fund briefs announced since the pension fund\u00c3\u00af\u00c2\u00bf\u00c2\u00bds asset\/liability structure was reviewed last year.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
According to the report, Dorset selected International Asset Management (IAM), a hedge fund manager with global network and reach to manage the firms diversified hedge fund portfolio. Buckland said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdAbsolute return funds were part of the study\u00c3\u00af\u00c2\u00bf\u00c2\u00bds recommendations as was a rejig of the assets we have.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd He added, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdWe made no other managerial changes but we moved some of the money around so we now have less in UK equities and a bit more in overseas bonds.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Buckland also noted that \u00c3\u00af\u00c2\u00bf\u00c2\u00bdThe restructuring involves a little over 5% of the portfolio being placed in absolute return funds, a couple of months ago we appointed Pioneer and Gottex to manage about \u00c3\u00af\u00c2\u00bf\u00c2\u00bd22m each and IAM is the third appointment. It will manage some \u00c3\u00af\u00c2\u00bf\u00c2\u00bd10m initially.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd Dorset County Pension Fund, is one of the first UK pension funds to adopt hedge fund management strategies, and currently oversees over BP900 million in pension assets.<\/p>\n
IAM manages portfolios of hedge funds for institutions and high net worth individuals. It is one of the oldest and largest independent specialist hedge fund multi-managers in Europe, with over $1.5 billion funds under management. Founded in 1989, the company specializes in tailor-making portfolios of hedge funds according to IAM statements.<\/p>\n
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