Pensions keen to maintain hedge fund allocation

Pensions see value in hedge funds despite Calpers's exit


When the California Public Employees’ Retirement System (Calpers) decided to divest its entire hedge fund allocation, news outlets quickly emphasised its bellwether status among pension funds, implying that others would follow its lead. Several public pension funds were quoted expressing an intention to review their allocations to hedge funds, but the predicted stampede of redemptions has not materialised. Pension funds, usually a collectively cautious set of investors who often follow the moves

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