Investment News reports that California CalPERS, the second
biggest U.S. public pension fund, is weighing taking its massive $255 billion
assets under management and moving it to an all-passive portfolio.
Why would this matter?
Well, it would matter a lot for active managers who receive management
fees from CalPERS, Josh Brown, who runs the popular financial blog the Reformed
Broker, points out on Twitter. The
California Public Employees' Retirement System already has more than half of
its investible assets in passive strategies. CalPERS is expected to make the decision in about five
months, the report said.
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