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.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.