16.09.2014 - Calpers to Exit Hedge Funds
The largest U.S. public pension plan is getting out of hedge funds as part of an effort to simplify its assets and reduce costs, a retreat that could prompt other cities and states to consider similar moves. The California Public Employees' Retirement System said Monday it would shed its entire $4 billion investment in hedge funds over the next year. The pension known by the abbreviation Calpers, which manages $298 billion in investments and benefits for 1.6 million current and retired police officers, firefighters and other public employees, is a bellwether for investment trends at other public plans. Any shift it makes will likely influence others because of its size and history as an early adopter of alternatives to stocks and bonds...............................................Full Article: Source
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