Michigan State Switches To Quants As Hedge Funds Drive Loss

(Crains Detroit Business) At Michigan State University, it’s out with the old hedge funds and in with the quants. After posting a 4.3 percent loss in its last fiscal year, the university’s endowment is pulling $100 million from four hedge funds and moving the money into computer-driven funds to diversify the portfolio. Half the money will go to a fund run by Renaissance Technologies….

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