The Government Accountability Office (GAO) in the US recently issued a report on the reliance of pension funds on hedge fund and private equity investments, finding that both portfolio types met plan representatives expectations in recent years.
That being the case, a number of plans experienced losses and other challenges such as limited liquidity and transparency. A number of plan representatives disclosed peak annual hedge fund losses in 2008 or 2009 ranging from about 12% to about 25%.
Most of the 22...