(Reuters) At quick glance, public pensions should be running from hedge funds.The secretive investment firms famous for their market-beating returns — and high fees to match — have recently produced losses or meager profits far below expectations. And thanks to a steady stream of bad publicity, public perception of the industry may be at an all-time low. At least one recent estimate found that clients are pulling money at a rate not seen since the financial crisis, according to research firm HFR’s tally of industry flows.
Public Pensions Stick with Hedge Funds Despite Frustrations
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