Institutional Investor (September 21)
2014/ 09/ 22 by jd in Global News
The California Public Employees Retirement System (CalPERS) “will sell its entire book of hedge funds, including 24 direct interests and another six hedge-fund–of-fund stakes.” This could signal a sea change as other pension funds reevaluate the effectiveness of hedge funds, which have mushroomed to $3 trillion. “Last year on average, hedge funds returned 9 percent, which was 23.4 percentage points less than public market returns.”
Tags: CalPERs, Effectiveness, Hedge funds, Market, Pension funds, Reevaluate, Return
