May
14
Strapped Pension Funds, and the Hefty Investment Fees They Pay
ByWhere are the pensioners’ yachts?
That riff on Fred Schwed Jr.’s famous Wall Street tell-all book — which explains why bankers and brokers own yachts, but the customers who take their advice do not — came to mind recently. I was reading a new report detailing how outsize money management fees are crippling the nation’s public pensions.
We’re talking about the fees charged by hedge funds and private equity firms to invest pension fund money — fees that enrich the wealthy but imperil workers, retirees and taxpayers…
Strapped Pension Funds, and the Hefty Investment Fees They Pay
