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This CIO Trades Losing Hedge Funds for Quants

  • The $2.35 billion endowment redeeming from four of the firms
  • MSU, whose investments lost 4.3% in ’16, adds Renaissance fund
Bloomberg business news

Michigan State’s Endowment Switching to Quants

Updated on

At Michigan State University, it’s out with the old hedge funds and in with the quants.

After posting a 4.3 percent loss in its last fiscal year, the university’s endowment is pulling $100 million from four hedge funds and moving the money into computer-driven funds to diversify the portfolio.