The Wall Street Journal reports that the head of the Utah Retirement System is taking a stand on what he says are unfair hedge fund fees. As the Journal reports, Utah’s Larry Powell has extracted “better fees” from 10 of the 40 hedge funds in which Utah has a direct investment. In doing so, he has won fans in the institutional investing community, such as the head of the Illinois State Board of Investment, who told the Journal that:
Study Finds Few Hedge Funds Pocket Mythical ‘2 and 20’
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