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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

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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.