Slamming a Door on Hedge Funds | NYTimes.com

Hedge funds typically charge 2 percent of the assets they manage and an additional 20 percent of any profits they generate. Investors in funds-of-funds pay even more: 3 percent and 30 percent.

In its announcement, Calpers said nothing about the performance of the hedge fund investments, but it was probably dismal.

via Slamming a Door on Hedge Funds – NYTimes.com.

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