Cripps allocates funds into alternatives

Fund of funds provider Cripps Portfolio is to allocate 5% of its £300m under management to alternative investments, including hedge funds over the next six months, and could double this allocation over the next 18 months.

Chris Orchard, director and head of investments at Cripps Portfolio, said the firm was presently using Financial Risk Management Limited to invest in hedge funds, and is taking a fund of funds approach to investment.

'In our asset allocation at Cripps Portfolio, traditionall