After the market closed last evening CALPERS announced that it is pulling its $4 billion in hedge funds. “One of our fundamental investment principles is that cost matters,” CALPERS' interim Chief Investment Officer said, “[A hedge fund] is an expensive investment vehicle, especially at our scale.”
Tuesday, September 16, 2014
CALPERS Exits Hedge Funds, Citing Investment Costs
After the market closed last evening CALPERS announced that it is pulling its $4 billion in hedge funds. “One of our fundamental investment principles is that cost matters,” CALPERS' interim Chief Investment Officer said, “[A hedge fund] is an expensive investment vehicle, especially at our scale.”
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