PGGM to invest in hedge funds 28 October 2010Amsterdam Reporter: Ben Wilkie
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Asset manager PGGM is planning on making direct investments into hedge funds in a move that it says will increase transparency and reduce costs.
The firm has partnered with Lyxor Asset Management to handle the operations, technology and infrastructure of the new platform.
Managed accounts give investors in hedge fund strategies day-to-day position-level transparency that, combined with adequate infrastructure, can significantly enhance risk management and portfolio construction.
They are also able to use the IT, reporting, legal, prime services and custody infrastructure of the platform provider.
Other funds have made similar moves - CALPers is moving towards managed accounts while in the UK, USS is utilising MAN Investments' platform for its hedge fund programme.
Jan Soerensen, PGGM's head of hedge funds, said: "This development fits within our strategy to have more direct control and oversight on investments as a leading responsible investor."
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