None of the Global Pensions 100 Panel has secured stakes in hedge funds through the secondary markets, our research shows.
The findings follow claims by secondaries trading platform HedgeBay that a growing number of pension funds are using its platform to trade stakes in hedge funds, and are increasingly appearing as buyers, rather than sellers.
HedgeBay co-founder Elias Tueta told GP that where pensions understood the stake and had confidence in the manager’s strategy, they were willing to buy troubled assets, even where the ‘work-out’ period could last up to five years. He also said pension funds have increased their use of HedgeBay more than ten-fold and now represent some 15% of total activity on the exchange.
At present, pensions comprise the minnow’s share of the activity on secondary markets. However, practitioners say institutional investors overall provide 10% of trade volume on central trading venues such as Hedgebay, compared to just 3% last year.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.