The Netherlands› PFZW has become the latest major pension fund to announce it will no longer use hedge funds to manage investments, citing excessive costs, complexity and poor performance.
The fund, which represents around 2 million workers in the health care sector, had 156.3 billion euros ($184.7 billion) in assets under management as of September 2014. About 2.7 percent of the fund’s assets had been invested with hedge funds in 2013, but the pension fund said it had "all but eradicated" their use by the end of 2014.
