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.
Quad Advisors provides small and mid-size hedge funds a scalable trading platform, in-house analyst research, risk assessment, accounting and technology services, as well as access to Quad and investor capital.
With Standard & Poor’s saying Argentina is in default and last-minute plans to remedy the situation falling through, investor focus is turning to whether holders of $29 billion of bonds will demand immediate repayment.