DutchNews.nl, January 9,
2015
The fund, the second biggest in the Netherlands, said the investments are not
only expensive and complex, but do not generate sufficient returns.
In
addition, the pension fund criticised ‘the high levels of remuneration in the hedge
fund sector and the often limited attention to social and environmental
issues’.
Zorg en Welzijn had 2.5 million members and €156bn in assets at the
end of last year.
At the end of 2013, the fund had money in 40 hedge funds
including Blackstone, Oaktree, Cerberus and Harbinger, although they only
represented 2% of its total investment.
Dutch pension funds had €28bn invested
in hedge funds in the third quarter of last year, the NRC says.
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