Hedge Fund News From HedgeCo.Net

Providence to move $4.3 million in pension funds to hedge fund with lower fees, higher return

Providence Journal – The Providence Board of Investment Commissioners, which is chaired by Mayor Angel Taveras, voted Tuesday to relocate $4.3 million in pension investments from a hedge fund with high fees to another with significantly lower fees and a greater rate of return.

The change, says the mayor and now gubernatorial candidate, will help Providence to continue to “outperform” its peers and the state.

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