CDS On BT Widen As Pension Results Loom

Hedge funds and prop desks are buying default protection on BT Group amid news reports of poor performance at the company’s pension fund, managed by Hermes Pension Fund Management.

  • 11 May 2009

--Rob McGlinchey

Hedge funds and prop desks are buyingdefaultprotection on BT Group amid news reports of poor performance at the company’s pension fund, managed by Hermes Pension Fund Management. The results for the fund are slated for release Thursday.

According to one London trader, five-year credit default swaps ...

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