Largest US Pension Fund Suffers Worst Annual Return Since Financial Crisis Due To Heavy Stock Losses
by Tyler Durden
ZeroHedge.com
Jul 18, 2016
While we have often documented the dramatic underperformance by the hedge fund industry over the past decade, today we learn that “vanilla” asset managers were also hurt over the past year in which the S&P went nowhere. Case in point: Calpers, the largest U.S. public pension fund which as the WSJ reports posted its lowest annual gain since the last financial crisis due to heavy losses in stocks.
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