Strings Attached - the drawbacks of pension fund allocations

It's difficult to exaggerate the effect pension fund capital has had on the growth of the hedge fund industry. In recent years, a symbiotic and well-documented relationship has evolved between pension funds faced with meagre returns and hedge fund managers, hungry to increase assets under management, that are able to outperform indexes. With the passage last summer of the Pension Protection Act of 2006 in the US, the way seems clear for even greater allocations to alternative investment mana