Pension managers slam funds of funds

Pension funds are disappointed with returns from funds of hedge funds, according to an industry survey published in October.

Less than a quarter of the 181 global pension funds surveyed by investment consultancy Mercer Consulting said they were satisfied with returns, while 48% were neutral and 28% were dissatisfied.

The disappointment is likely to stem from overinflated expectations and frustration with a lack of transparency, says Divyesh Hindocha, global head of investment consulting policy

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