Tag: hedge funds
The answer appears to be “no.” State and local government pension plans review their investment performance in two main ways. At a broad level, they compare their overall portfolio returns to their peers or to a simplified portfolio (such as a 60/40 stock/bond index). At a narrower level, plans compare their returns by asset class…
Alternative investments do not appear to have helped state and local pension portfolios. My co-authors – JP Aubry and Anqi Chen – and I have been laughing at ourselves over a recent brief. We were concerned that our topic and findings were explosive! So we had it reviewed by everyone under the sun, and st…