UK pension fund hits at hedge fund fees

Criticism comes after Calpers withdraws from sector

Editor’s choice

William "Bill" Ackman, founder and chief executive officer of Pershing Square Capital Management LP, speaks during a presentation in New York, U.S., on Thursday, Dec. 20, 2012. Herbalife Ltd., the maker of namesake nutritional and weight-loss supplements, fell for the second day after Ackman said he has taken a short position on the company. Photographer: Scott Eells/Bloomberg *** Local Caption *** Bill Ackman ©Bloomberg
Data provider Eurekahedge concerned about performance prospects
Photo of playing cards ©Nick Lowndes
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Calpers: just not that into you

The Californian public pension fund ends its relationship with hedge funds

Edward Bramson

Bramson pledges to double Electra value

Activist investor fights board’s refusal to grant him seats

Calpers pulls out of ‘costly’ hedge funds

Largest US public pension fund turns back on sector it says is too complex

Top Chinese banks set for $81bn injection

Latest move to prop up world’s second-biggest economy

Watchdog seeks to align pay with results

Move to align remuneration with long-term success of a company

Composite picture of Sinopec and Citic logos
©Getty/Bloomberg

China SOE reform no bonanza for bankers

Banks will keep busy but a rush of fees is uncertain

Junk bond issuers lock in low costs

High-yield sales surge ahead of future rate rises

EM stocks tumble on Fed rate rise fears

Concern grows developing countries might face repeat of 2013 rout

Foreign investment into China slumps

Decline is fastest since height of financial crisis

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