{"id":43224,"date":"2014-07-24T08:41:37","date_gmt":"2014-07-24T12:41:37","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=43224"},"modified":"2014-07-24T08:46:07","modified_gmt":"2014-07-24T12:46:07","slug":"california-retirement-system-to-pull-40-of-its-hedge-fund-investments","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2014\/california-retirement-system-to-pull-40-of-its-hedge-fund-investments.html","title":{"rendered":"California Retirement System To Pull 40% Of Its Hedge Fund Investments"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/07\/calpersx390-300x219.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-43228 size-full\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/07\/calpersx390-300x219.jpg\" alt=\"\" width=\"300\" height=\"219\" \/><\/a>New York (HedgeCo.Net) &#8211; The California Pension Fund (Calpers) has announced that it is cutting back on its investments into the hedge fund arena by 40%, the <a href=\"http:\/\/online.wsj.com\/articles\/calpers-pulls-back-from-hedge-funds-1406156915\" target=\"_blank\">WSJ<\/a> reports.<\/p>\n<p>A Calpers spokesman told the paper that the investment staff will make a formal recommendation to the board in the fall.<\/p>\n<p>Calpers reported a preliminary 18.4 percent return on investments for the 12 months that ended June 30, 2014. CalPERS assets at the end of the fiscal year stood at more than $300 billion.<\/p>\n<p>&#8220;The retreat comes after many pension funds poured money into hedge funds in recent years in hopes of making up huge shortfalls.&#8221; The Wall Street Journal reports. &#8220;The officials overseeing pensions for Los Angeles&#8217;s fire and police employees decided last year to get out of hedge funds altogether after an investment of $500 million produced a return of less than 2% over seven years, according to Los Angeles Fire and Police Pensions General Manager Ray Ciranna. The hedge-fund investment was just 4% of the pension&#8217;s total portfolio and yet $15 million a year in fees went to hedge-fund managers, 17% of all fees paid by the fund.&#8221;<\/p>\n<p>CalPERS 20-year investment return is 8.5 percent, while its return since 1988 is 8.9 percent.<\/p>\n<p><span style=\"color: #000000;\">Alex Akesson<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Editor for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a><span style=\"color: #000000;\">\u00a0is a premier\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a><span style=\"color: #000000;\">\u00a0and community for qualified and accredited investors only. Membership in\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><span style=\"color: #000000;\">\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a><span style=\"color: #000000;\">!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The California Pension Fund (Calpers) has announced that it is cutting back on its investments into the hedge fund arena by 40%, the WSJ reports. A Calpers spokesman told the paper that the investment staff will [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,16042,3],"tags":[],"class_list":["post-43224","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-performance-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43224","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=43224"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43224\/revisions"}],"predecessor-version":[{"id":43231,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43224\/revisions\/43231"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=43224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=43224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=43224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}