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Mutual Funds Center

Calpers Is Done With Hedge Funds; Paid $135 Million in Fees Last Year for 7.1% Return

Bloomberg The California Public Employees' Retirement System's decision to divest its entire $4 billion from hedge funds came after officials concluded the program couldn't be expanded enough to justify the costs. "Our hedge fund allocation was quite small," interim Chief Investment Officer Ted Eliopoulos said today on Bloomberg Television's "Market Makers" with Erik Schatzker and Stephanie Ruhle…

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