{"id":33607,"date":"2013-01-28T08:24:13","date_gmt":"2013-01-28T13:24:13","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=33607"},"modified":"2013-01-28T08:24:13","modified_gmt":"2013-01-28T13:24:13","slug":"state-pension-board-made-expensive-bet-on-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2013\/state-pension-board-made-expensive-bet-on-hedge-funds.html","title":{"rendered":"State pension board made expensive bet on hedge funds"},"content":{"rendered":"<p>Philly.com &#8211; Back in 2006, the\u00a0Pennsylvania State Employees Retirement System (SERS)\u00a0and its board, headed by\u00a0ex-state Rep. Nicholas Maiale\u00a0(D., Phila.), gave more than $3 billion to six private investment firms so they could use it to buy high-priced hedge fund investments, in hopes of fat profits.<\/p>\n<p>The goal was to beat the sluggish stock and bond markets and ease the system&#8217;s deficit, which had been growing since\u00a0Gov. Tom Ridge\u00a0boosted pensions in 2001 but failed to pay for the increase.<\/p>\n<p><a href=\"http:\/\/articles.philly.com\/2013-01-27\/business\/36579096_1_arden-asset-management-sers-fund-strategy\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Philly.com &#8211; Back in 2006, the\u00a0Pennsylvania State Employees Retirement System (SERS)\u00a0and its board, headed by\u00a0ex-state Rep. Nicholas Maiale\u00a0(D., Phila.), gave more than $3 billion to six private investment firms so they could use it to buy high-priced hedge fund investments, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33607","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=33607"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33607\/revisions"}],"predecessor-version":[{"id":33608,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/33607\/revisions\/33608"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=33607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=33607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=33607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}