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
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...