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Pension fund behemoth Calpers is dumping half its investment managers in an attempt to cut costs, a move other pension funds may follow, analysts say.
More than half of the external investment managers currently retained by Calpers could soon find themselves on the chopping block, as the largest public pension fund in the U.S. seeks to cut those relationships down to 100 from the current total of 212, in an attempt to decrease costs and overall risk and complexity. “Calpers...
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