The Funds Dragging Down Rhode Island’s Hedge Fund Portfolio

A review of the performance of the pension fund’s individual hedge fund holdings illustrates why it wants to cut back on them.

When Rhode Island announced last week that its State Investment Commission will slash its investment in hedge fund strategies by more than $500 million over the next two years and reallocate these funds to more traditional investment vehicles, the state’s general treasurer, Seth Magaziner, cited performance as the main reason.

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