CalPERS cracks down on gifts, travel and fees
Thu Mar 24, 2011
The $228 billion California Public Employees' Retirement
System conducted a special review of fees paid by external
managers to placement agents and an analysis of more than 70
million pages of information collected from more than 400
managers and more than 140 interviews.
The special review began in 2009 and resulted in more than
$200 million in fee concessions from leading external managers,
plus another $100 million in fee reductions from other large
external managers as each firm agreed not to use a
ISSN: 2151-1845 / CDC10004H
The full contents of this article are available to active InvestHedge subscribers and trialists only.
TAKE A FREE TRIAL
To continue reading please, take a free trial, subscribe or log in to InvestHedge.
Subscribers have unlimited access to all current content, including fund performance Live League Tables. Start your subscription today - click on the button below.