The Shame of Alternative Investments

University endowments and corporate and state pension funds are underperforming because of putting too much money in so-called alternative investments.
The campus that spawned an investment model.                                  

Last summer in Cambridge, Massachusetts, the Trustee Leadership Forum for Retirement Security held its annual meeting at Harvard's Kennedy School of Government. Trustees and representatives of various state pension funds listened to explanations about the challenges facing endowments and pension funds.

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