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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Diageo Pension Reduces Equity-Based Investment

Nov 07, 2013
Jing Chen

The pension fund of London-based alcoholic beverages company Diageo has reallocated its investment in equity-based hedge funds to other hedge fund strategies.

Pensions Week reported that Diageo Pension Scheme reduced its allocation in the sector to $353 million in March 31 from about $522 million in 2011 to focus on specific strategies within the same asset class.

The pension fund, which has shown increased interest in credit-based hedge fund strategies, has been looking to improve diversification since the 2008 global financial crisis.

One of the world’s largest alcohol producer, Diageo’s brands include Smirnoff, Johnnie Walker and Baileys.

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