UK - The £3.5bn Lancashire County Council pension fund has tendered a new fund of hedge funds brief worth £100m.
Principal accountant Mark Bennett said funds for the new allocation would come from cash, currently 5%.
The move has been based on advice from Mercer.
The pension fund is currently invested in UK and overseas equities, bonds, property and private equity.
By Lisa Haines
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.