Pension tension
Such a presumption would seem especially true for public pension funds with strict fiduciary duties to their 'everyman' investors. Even as pension fund managers have increased their exposures to hedge fund investments in recent years, those increases have, by and large, meant single-digit allocations in terms of percentages of their overall portfolios.
What a difference a credit crisis with recessive implications for the US and global economies can make, apparently. A Bloomberg article by Adam
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