Last week, California Public Employees’ Retirement System (CalPERS), the largest pension fund in the US, announced that it would pull all $4 billion from its hedge fund investment program of 24 hedge funds and six hedge “fund-of-funds”. CalPERS was one of the first pension funds to invest in hedge funds in 2002. Hedge funds – […]
According to Bloomberg News, hedge funds returned an average of 7.4% in 2013, marking the fifth straight year of under-performance versus the broad stock market. You can read the entire January 7, 2014 Bloomberg article here.