The pound fell to the weakest level in a month versus the euro as a report showed the U.K. inflation rate stayed near a five-year low, adding to speculation the Bank of England will delay increasing interest rates.
The $298 billion California plan, known as Calpers, said Sept. 15 that it would eliminate its $4 billion allocation to hedge funds. The Sacramento-based fund said the investment vehicles were too complex, costly and small to affect performance. It began the strategy in 2002.
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