UK - The £2.6bn London Pension Fund Authority is planning to shift 10% of its assets from equities into alternative investments.
The planned move follows a triennial valuation and a subsequent asset liability study by Hymans Robertson.
The LPFA has around 80% of its assets in equities and is looking to reduce this figure to 70%.
The remainder will be split equally between bonds and alternative investments.
LPFA chief executive Peter Scales said: “Principally we are looking at property and private equity but at the same time looking at all other alternatives around that – areas such as hedge funds, high yield bonds and commodities.”
He added: “We are now in the process of investigating what would be the best vehicles to use to get into those and the best timing, because now is not the best time to switch out of equities.”
The LPFA currently has around £5m invested in private equity but has no property exposure at the moment after moving out of the sector three years ago.
Scales said that if the scheme decided to invest in property again, it was more likely to do so through property unit trusts than direct investment as it had before.
The LPFA has recently appointed independent investment advisers – former Legal & General group investments director David Rough and Universities Superannuation Scheme chief investment officer Peter Moon – to help it with any investment changes.
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