patrick.net

There are more than 10,000 hedge funds and growing in the U.S., many of them part of the municipal pension fund strategies all over the U.S., including CalPERS, California Public Employee's Retirement System. But in early September, CalPERS new CIO, Ted Eliopoulos, dumped hedge funds as a strategy for the California pension system.

http://www.globaldeflationnews.com/calpers-dumping-hedge-funds-too-complex-to-keep-up-with-says-new-cio/