Church of England Baptizes Hedge Funds

Despite lackluster returns over the past four years, the hedge fund industry seems to be attracting more money from more variegated sources than ever before. The Church of England, for example, recently invested its pension plan in three prominent hedge funds (BlackRock, Bridgewater and Winton) which the CIO of the CoE described as follows: “[t]hey’ve been around for a while, have an enviable long-term track record and in many ways we feel quite fortunate to be able to invest in them.” High praise indeed.