Kvaerner Pension Fund (Kvaerner) has appointed JPMorgan Alternative Asset Management to manage a new hedge fund of funds mandate worth £25 million (approximately $40 million). This is the first time Kvaerner has taken the decision to employ a hedge fund strategy in managing its pension fund assets. The £25 million mandate has been invested in a multi-strategy hedge fund of funds. Scott Stein, Vice President, JPMorgan Alternative Asset Management, said: ‘Kvaerner’s allocation demonstrates the growing trend we are seeing among institutions in the UK in the use of hedge fund strategies – where institutions are increasingly looking at alternative investments to enhance the return and reduce the risk in their portfolios.’
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.