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In the week ending 26 September, 2014, institutional investor Teacher Retirement System of Texas' directional hedge funds generated one-year alpha of as of June 30 of 5.5 percentage points; Harvard University's endowment reinforced its commitment to hedge funds and private equity as it reported investment gains for 2014. Texas Teachers however decided to slightly cuts its allocation to directional hedge funds.

Meanwhile Agecroft Partners’ Donald A. Steinbrugge predicted five outcomes from CalPERS hedge fund move; CalPERS decision should be seen as a warning for the industry that its ability to attract new money and maintain its fee structure is under threat; Ted Eliopoulos clarified that CalPERS decision to exit hedge fund was not about performance; Illinois Student Assistance Commission, Springfield, is redeeming its approximately $30m investment in Balestra Spectrum; Maryland’s shift of pension cash to Wall Street delivered below-median results; and Pennsylvania's Auditor General Eugene DePasquale said the state should dump costly hedge funds.

Dutch pension PMT announced plans to divest its €1bn hedge fund holdings while Europe’s largest pension said it would not drop hedge funds.

The scions of a number of wealthy families have either recently launched hedge funds or plan to do so soon; Hal Lehr received backing from JPMorgan Chase & Co.’s asset management unit to start a New York hedge-fund firm; Wolf Hedge has launched its second fund Wolf Hedge Global; and Ramius has announced a partnership to launch Quadratic C......................

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