"University of California’s twelve-year experiment with Hedge Fund Investments has fallen far short of the expectations on which they were sold--costing the system nearly a billion dollars in performance and management fees for returns that largely mirrored the stock market, according to a new study by the UC system’s largest employee union, AFSCME Local 3299.
In addition to their high cost, UC’s hedge fund investments also failed to deliver on their twin promises of downside protection and “superior returns,” and were outperformed by the S&P 500 Index by more than 52%.
The report, entitled “Missing the Mark: How Hedge Fund Investments at the University of California shortchange students, staff and California taxpayers” explores the history and performance of the UC’s largest Hedge Fund holdings."
You can read the report : here
University Of California’s Hedge Fund Investments Plagued By High Fees
They also cover this
Davis Vanguard with Vanguard Analysis: UC Davis Driving Housing Crisis in Davis
Daily Cal also covered this issue recently here:
And Davis Vanguard followed up with more analysis here:
Also, this on a UC Davis event:
- Richard Blum (AGAIN!)
- Wm. De La Pena
- Gareth Elliott
- George Kieffer
- Sherry Lansing (AGAIN!)
- Monica Lozano (AGAIN!)
- Hadi Makarechian
- Eloy Ortiz Oakley
- Norman Pattiz (AGAIN!)
- John A. Pérez
- Bonnie Reiss
- Richard Sherman
- Bruce Varner
- Charlene Zettel
- Marcela Ramirez
- UC Regents Committees
- Staff Advisors, Faculty Reps, Designates
- Ex Officio UC Regents
- UC Alumni Regents
"If the University were a business, it would likely be the largest corporation in California."
"If The University Were A Business, It Would Likely Be The Largest Corporation In California"-Regents Minutes (2010)