Similar Stories to Hedge Fund Managers React: Calpers Was Just Terrible At Picking Hedge Funds on Bing News

Julia La Roche, Business Insider
Tue, 09/16/2014 - 9:59am

The hedge fund industry today is buzzing about the nation's largest public pension fund's decision to ditch all of its hedge fund investments. On Monday, the California Public Employees’ Retirement System (CalPERS) said it's dumping all of its hedge fund investments because of fees and complexity. "Hedge funds are certainly a viable strategy for some, but at the end of the day, when judged against their complexity, cost, and the lack of ability to scale at CalPERS’ size, the ARS program is no longer warranted," Ted Eliopoulos, CalPERS Interim Chief Investment Officer said in a statement.

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