Top Investors Join Buffett Slamming Hedge Fund Fees at Milken

(Bloomberg) Top investors took hedge fund fees to task at the Milken conference Monday, with participants saying managers return too little and face a wave of closures. Chris Ailman, CIO for the $187 billion California State Teachers’ Retirement System, told Bloomberg Television that the two-and-twenty fee model is “broken” and “off the table” for large institutional investors…..

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