Hedge Funds & Stock Markets: Wolves in Sheep’s Clothing?

Last year was a difficult year for active management in general and, outside global macro and trend following strategies, hedge funds in particular. General underperformance combined with CalPERS’ decision to exit hedge funds turned hedge funds into the industry’s scapegoat. A recent New York Times article “As Hedge Fund Returns Falter, Money Continues to Flow […]

CalPERS hedge fund universe

Don’t Jump on the Bandwagon: What the CalPERS Decision To Eliminate Hedge Funds Really Means

Last month, CalPERS, the largest public pension fund in the U.S., made the decision to eliminate hedge funds from its portfolio. “We are always examining the portfolio to ensure that we are efficiently and cost-effectively achieving our risk-adjusted return goals,” said Ted Eliopoulos, CalPERS Chief Investment Officer, in a press release on September 15. “Hedge […]