Asian public pensions still averse to hedge funds

The Hong Kong Hospital Authority's provident fund is a rare beast. It is among only 2% of Asian public pension funds that invest in hedge funds, according to US research firm Preqin. The HKHA currently allocates 2%, or $70 million, of its $3.5 billion in AUM to the asset class, says a new Preqin report. That figure is usually 5%, but the institution has just divested a fund-of-hedge-funds manager and is in the process of hiring another.  By contrast, 70% of public retirement fun…