A sign stands in front of California Public Employees' Retirement System building in Sacramento, California. CalPERS is the state's public employees retirement fund. (Photo by Max Whittaker/Getty Images)
The California Public Employees’ Retirement System plans to divest the entire $4 billion that it has with hedge funds, saying they’re too expensive and complex. The decision to eliminate 24 hedge funds and six hedge fund-of-funds, isn’t related to the performance of the program, said Ted Eliopoulos, the interim chief investment officer. The board of the $298 billion pension, known as Calpers, hasn’t decided where to invest the money after the pullout, which will take about a year, he said. [Full Story]
Related Stories
Berkshire's Charlie Munger: An Investor Has Got to Know His Limitations
What has accounted for the stunning success of Berkshire Hathaway over the years, with an annualized return of 8.6 percent since 1999, beating out the S&P 500 by more than 4 percentage points a year?... [Full Story]
The decision by Calpers (California Public Employees' Retirement System), [Full Story]
Renewable energy could have "dire unintended consequences" for some of [Full Story]
CNBC's Fed survey for September of 37 economists, fund managers and [Full Story]
How can investors tell when they should do an about-face with their risk-on [Full Story]
It might not be clear when or if the United States will win the emerging [Full Story]
The California Public Employees' Retirement System's decision to divest [Full Story]
The Social Security Administration has resumed mailing statements to [Full Story]
Virtually everyone in the financial markets agrees that the Federal [Full Story]
Plans for a major rewriting of international tax rules unveiled on Tuesday could eliminate structures that have allowed companies like Google Inc. and Amazon.com Inc. to shave billions of dollars off their tax bills. [Full Story]
The government's auto safety agency should have discovered General Motors' faulty ignition switches seven years before the company recalled 2.6 million cars to fix the deadly problem, a House committee majority charged Tuesday in a new report. [Full Story]
The Russian central bank sees crude oil prices returning to above $100 per barrel in coming quarters and staying above that mark in 2016-2017, according to the bank's quarterly monetary policy document published on Tuesday. [Full Story]
The world's biggest banks are overhauling how they trade currencies to regain the trust of customers and preempt regulators' efforts to force changes on an industry tarnished by allegations of manipulation. [Full Story]
Healthcare will obviously be one of your major costs after you stop working. [Full Story]

Market Watch
Company Name or Symbol: 

Click Here for Pre-Market Data

Email:
Country
Zip Code:
Privacy: We never share your email.
 
Insiders
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus



Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved