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Hedge funds shunned on principle by Danish pension fund

A pension firm in Denmark that has a reputation for enforcing some of Europe’s toughest ethical investing standards says it won’t do business with hedge funds.

Anders Schelde, the chief investment officer of Akademikerpension, says the external allocations the USD 20 billion investor makes exclude hedge funds because "I don’t think they create the value they say they do." | Photo: PR/MP Pension

Anders Schelde, the chief investment officer of Akademikerpension, says the external allocations the USD 20bn investor makes exclude hedge funds because "I don’t think they create the value they say they do."

Schelde said he sees no point in trying to identify top performers. "The only thing we know for sure is that they want 2/20"and "we don’t want to finance that." (Hedge funds typically charge a management fee of 2 percent of total assets, and a 20 percent performance fee from profits.)

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