|
|
By Benedicte Gravrand, Opalesque London: See yesterday’s 2009 outlook (8) here.
Anxious investors may have been rushing to redeem from their hedge fund investments, especially since September ’08, but the most resilient of all are institutional investors. They are in for the long haul, and from their perspective, there is value in alternatives.
USS sees ‘compelling opportunities’ in the hedge fund industry, will launch investment program later this year
UK Universities Superannuation Scheme (USS)’s CIO Peter Moon anticipates another step down from current market levels, with a bottom sometime around the second quarter of 2009. From the bottom of the bear market in 1974, the market took 15 years to exceed its previous peak.
However, he believes that in the context of a pension scheme, lengthy recovery periods amount to fractions of a working life time and funds with sturdy cash flows can use these periods to invest in growth assets such as equities.
The great thing about the cash flow at schemes like USS, he says, is it enables them to buy assets over a period of time. USS can diversify the fund into a wider spread of asset classes which will hopefully give it a much more stable investment return in future.
Mike Powell, head of alter...................... To view our full article Click here
|
|
RSS
