Hedge-Fund Performance Eases Calpers Divesting: Chart of the Day
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Hedge funds’ relatively poor performance during a bull market in stocks may have made the California Public Employees’ Retirement System’s decision to sell off its fund holdings easier.
The CHART OF THE DAY shows how the HFRX Global Hedge Fund Index compares with the MSCI World stock index and the Barclays Global Aggregate bond index since March 2009, when share prices started climbing. The latter two gauges track total returns, including equity dividends and interest payments on debt.