Avon Pension Fund, Bristol, England, hired J.P. Morgan Alternative Asset Management to set up, implement and manage a roughly £187 million ($290 million) hedge fund-of-funds portfolio, said Matthew Clapton, investments officer at the pension fund.
The allocation was funded from previous hedge fund holdings, Mr. Clapton said in an e-mail. According to the pension fund’s annual report for the fiscal year ended March 31, 2014, the latest available, its hedge funds-of-funds allocation was managed by Signet Capital Management, Gottex Asset Management and Stenham Asset Management.
Public documents said the search, which was launched in November, followed a review of the existing hedge funds-of-funds portfolio.
The pension fund has £3.8 billion of assets..
