Should Public Pension Funds Reduce their Hedge Fund Allocations?

Also see   Q3 2016 hedge fund letters Q2 2016 hedge fund letters   CalPERS was the first high profile public pension to pull out of hedge funds, and was followed a year and a half later by one of the New York City retirement plans. Recently, the number of public pension funds exiting or reducing their hedge fund exposure has accelerated. We believe this trend will increase over the next 12 months due to growing political pressure on investment staffs of public pension funds from the media, union employees, and politicians. The pressure is being driven by unrelenting negative…