Britain’s biggest local government pensions ditch hedge funds for wind farms
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LONDON (Reuters) - Local government pension schemes in Britain pulled money out of hedge funds last year, shifting cash to infrastructure projects such as wind farms and to private equity, a Reuters analysis of annual reports shows.Local government schemes, which are among the largest pension investors in Britain, slashed their investments in hedge funds by a third in 2019, amid concern about low returns and high fees, the analysis shows.The drop reflects a difficult year for hedge funds, with..