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Dutch Pension Drops Hedge Funds

The Netherlands’ second-largest pension fund has announced plans to exit its hedge funds investments. The fund, PFZW, has already began the process of winding down the investments. The fund cited complexity, lack of performance and excessive costs as reasons for the pullout. From Reuters: The Netherlands’ PFZW has become the latest major ...
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Paul Singer Says CalPERS Was “Wrong to Desert” Hedge Funds

Paul Singer, a hedge fund manager, activist investor and billionaire, again questioned CalPERS’ decision to pull out of hedge funds at a conference Friday in New York. Heard by Businessweek: Paul Singer, who runs hedge fund firm Elliott Management, said the decision by the California Public Employees’ Retirement System to stop investing with hedge ...
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Paul Singer: CalPERS’ Hedge Fund Exit Was “Off-Base”

Paul Singer, a hedge fund manager, activist investor and billionaire, wrote in a recent letter to clients that CalPERS’ exit from hedge funds was “off-base”. CalPERS said at the time that its decision to exit hedge funds was based on their “complexity, cost and the lack of ability to scale at CalPERS’ size”. Singer responded to those criticisms, ...
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Lowenstein: Do Pension Fund Make Investing Too Complex?

Former New York Times financial writer Roger Lowenstein wonders in his new Fortune column whether pension investments have become too complex. Lowenstein’s thesis: Pricey consultants have convinced many pension funds to pile into private equity, real estate and hedge funds, which don’t necessarily promise higher returns or long-term investing. […] [Pension ...
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Principles For Better Pension Design

A long, insightful discussion and analysis of pension design was published in the Fall issue of the Rotman International Journal of Pension Management. During the course of the paper the three authors, Thomas van Galen, Theo Kocken, and Stefan Lundbergh, propose a set of principles to help navigate the dilemmas and trade-offs posed by both public and ...
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