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Pension fund

Not all pension plans invest in hedge funds yet. Hard to believe given the overwhelmingly superior safer performance in ALL market conditions. Smaller pensions, who could get properly invested in good hedge funds quickly and easily, are the main holdouts. The portfolio percentage allocated to hedge funds remains far below necessity while vast amounts continue to be gambled on long only equity and credit. Why do investors hope for bull markets when safer ways of managing money now exist? The real prudent man hedges.

The poor performance of long only demonstrates the downside risks of non-hedged equity as an asset class. In contrast recent market fluctuations have been ideal for many hedge funds, particularly those running long volatility strategies. Of course beta biased funds had a rough time which is why it is so important to be able to differentiate between the true alpha generators and the many beta repackagers.

Conservative investors ought to use modern financial technology. Competent hedge funds lessen the agony of drawdowns, negative compounding and increased plan sponsor capital contributions. The case for hedge funds is proven. Over 50 years of data clearly demonstrates better performance at lower volatility and lower risk, beyond any reasonable doubt.

Standing by and watching liabilities grow while the asset side vaporizes is not prudent. What are investors waiting for? Another 10% drop in the markets? 20%? Perhaps they are hoping a mañana attitude will bail them out. Maybe it will this time but should they be making that kind of bet? The job is to match liabilities with asset growth and proper hedge funds are a way to help do that.

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