Calpers Pulls Public Employee Pensions Out Of Hedge Funds
California's public employee pension is divesting its entire $4 billion stake in hedge funds. Calpers says the investment proved to be too complex and not worth the expenses. Many public pensions turned to hedge funds in hopes of boosting returns and gaining protection from market crashes, but most have lagged behind market indexes in recent years.
Copyright 2021 NPR. To see more, visit https://www.npr.org.