(Pension & Investments) Some trustees argue the anemic performance of hedge fund portfolios has cost state pension systems an opportunity to reduce the funding gap after the recession. From 2008 until now, hedge fund returns have almost halved as compared to returns from the prior decade. Albourne Partners reported the HFRI Fund Weighted Composite index, a proxy for the hedge fund industry, returned 14.6% from Jan. 1, 1998, to Dec. 31, 2007, as compared to returns of only 8.6% from Jan. 1, 2009, to Dec. 31, 2016. Notably, despite these decade-over-decade declining returns, manager fees have remained relatively unchanged.
Public Plans Must Demand a Fair Shake From Hedge Funds
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