Hedge funds face new blow as US$83b investor opts for DIY

MUNICH: Danish pension fund PFA says it has found a way to boost returns in a world of ultra-low yields: cut out middle men like hedge fund managers and do it yourself.

“Part of our new strategy is to do more investments directly instead of via specialised funds,” said Christian Lage, who helps oversee about US$83bil in pension savings as co-chief investment officer at PFA in Copenhagen.