AMWatch

Pension fund CIO reviews hedge fund allocation after sell-off: "I fear they don’t work, but I hope to be proven wrong"

The chief investment officer of Veritas Pension Insurance Co. will review the firm’s hedge fund allocation amid concerns the asset class is adding little to overall returns.

Photo: JOHANNES EISELE/AFP / AFP

Kari Vatanen, who started as CIO at the Finnish fund this month, said he can’t guarantee that he’ll continue to allocate 7 percent to hedge funds, once his review is completed later this year.

“I want to see data and evidence,” he said by phone. “I fear they don’t work, but I hope to be proven wrong.”

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