{"id":54859,"date":"2016-10-18T09:41:15","date_gmt":"2016-10-18T13:41:15","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=54859"},"modified":"2016-10-18T09:40:26","modified_gmt":"2016-10-18T13:40:26","slug":"hedge-funds-cost-n-y-pension-plan-3-8-billion","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2016\/hedge-funds-cost-n-y-pension-plan-3-8-billion.html","title":{"rendered":"Hedge Funds Cost N.Y. Pension Plan $3.8 Billion"},"content":{"rendered":"<p>(Bloomberg) The New York state comptroller\u2019s decision to stick with hedge funds despite their poor returns has cost the Common Retirement Fund $3.8 billion in fees and underperformance, according to a critical report by the Department of Financial Services.<\/p>\n<p>The state comptroller, who invests $181 billion for two systems covering local employees, police and fire personnel, &#8220;has over relied on so-called \u2018active\u2019 management by outside hedge fund managers,&#8221; the department said Monday in the 20-page report. &#8220;For years the State Comptroller has been frozen in place, letting outside managers rake in millions of dollars in fees regardless of hedge fund performance.&#8221;<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-10-17\/hedge-funds-cost-new-york-state-fund-3-8-billion-report-says\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) The New York state comptroller\u2019s decision to stick with hedge funds despite their poor returns has cost the Common Retirement Fund $3.8 billion in fees and underperformance, according to a critical report by the Department of Financial Services. The [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-54859","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54859","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=54859"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54859\/revisions"}],"predecessor-version":[{"id":54860,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/54859\/revisions\/54860"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=54859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=54859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=54859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}