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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Lizzie Tudor who wrote (193583)3/27/2009 8:53:11 PM
From: stockman_scottRead Replies (1) of 306849
 
Calpers Tells Hedge Funds to Fix Terms -- or Else...

online.wsj.com

<<...Calpers, the California public pension fund that is one of the biggest investors in hedge funds, is demanding better terms from funds, including lower prices and "clawbacks" of fees if performance weakens.

The $172 billion pension fund is a bellwether in the money-management business. A Calpers investment can help money managers like hedge funds attract other clients.

The move by the California Public Employees' Retirement System underscores the changing dynamics between hedge funds and their clients. Just two years ago, investors clamored to get into highflying funds, agreeing to pay fees that in some cases reached 3% of assets...>>
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