Pension Funds Become Hedge Funds, Roll the Dice on Exotic Investments

January 28, 2013 - 4:27pm

Running a pension fund used to be one of the easier jobs in finance. The money came in steadily and predictably from member contributions, and you invested it conservatively (in investment grade bonds and blue chip stocks) to meet a modest annual return target of around 8%. It was cook-book money management, nice and cushy [...]

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