The $1.2bn (€1bn) Kodak pension scheme in the UK is outperforming its peers through an investment strategy that involves a 35% weighting in hedge funds and 2% exposure to UK equities.

After a painstaking selection procedure, Kodak has put together a list of 40 managers to achieve its objectives. Mike Stockwell, Kodak's scheme officer, says: "This looks like a lot, although they fit together rather neatly."