Pension managers unhappy with funds of funds

Pension funds are disappointed with returns from funds of hedge funds, an industry survey reveals today.

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 at Mercer in London.

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