(FT) Church of England defends plans to boost hedge fund investments

The man responsible for the Church of England’s £6bn endowment has defended plans to increase its investment in hedge funds, arguing that not all of the industry has “devil’s horns”.

Andreas Whittam Smith, First Church Estates Commissioner, told the Financial Times that the Church’s own ethical watchdog sanctioned short selling, providing it was done in a responsible way.

He added that the group “does not have ethical concerns about short selling per se as an investment practice,” and “did not make an ethical distinction between seeking to profit from a rise in the value of a security as against seeking to profit from a fall.”

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Posted in * Anglican - Episcopal, * Economics, Politics, Anglican Provinces, Church of England (CoE), Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Housing/Real Estate Market, Stock Market