Pension plans cut hedge fund assets in 2022

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US pension plans' aggregate hedge fund assets were lower as of the end of September 2022 than they were in the previous year earlier, in part due to difficult market conditions, but also because some funds cut their allocations in favour of alternative asset classes, according to a report by Pensions & Investment Online.

The report cites P&I's annual US retirement plan survey as showing that the defined benefit pension plans' aggregate hedge fund assets fell by 17.2% to $138.3 billion for the year ended 30 Sept 30 – a 13.3% drop from five years ago.

The survey also reveals that macro strategies, systematic CTAs, and relative value funds were the strategies most favoured by pension funds, while long/short equity and momentum trading proving the least popular.

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