Alts-hungry SWFs risk returns let-down

As sovereign wealth funds and state pension funds in Asia — as elsewhere — increasingly turn to alternative investments in search of higher returns, hitting performance targets will be a challenge, according to a new industry survey. Allocations to alternatives among sovereigns increased globally from an average of 10% in 2013 to about 20% in 2018, Invesco’s latest annual global sovereign asset management study published on Monday shows. With total assets under management (AUM)…