Hedge Funds Shunned on Principle by $20 Billion ESG Manager

A pension firm in Denmark that has a reputation for enforcing some of Europe’s toughest ethical investing standards says it won’t do business with hedge funds.

Anders Schelde, the chief investment officer of AkademikerPension, says the external allocations the $20 billion investor makes exclude hedge funds because “I don’t think they create the value they say they do.”