AIG to Plan Exit From at Least Half of Hedge Fund Positions
- Insurer said to limit to 50 funds or fewer, from more than 100
- New investing chief Dachille to help reshape portfolio
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American International Group Inc. plans to exit at least half the hedge funds in which the insurer is invested, according to people familiar with the company’s portfolio.
The insurer has holdings in more than 100 funds and plans to cut that number to 50 or fewer, said the people, who asked not to be identified discussing investing decisions. AIG is planning for increased volatility that could pressure high-risk assets, and for a possible period of limited liquidity in financial markets, the people said.