Hedge Funds? Returns Don?t Impress Centrica Pension Fund

Centrica Plc’s pension pot is shunning hedge funds and boosting investment in real assets as it seeks to plug a 1.2 billion-pound funding hole. “My definition of hedge funds is where people seek to magic up returns out of nothing,” said Chetan Ghosh, chief investment officer of the company’s 7.3 billion-pound retirement funds.