8/3/2015 – For Pensions, Higher Fees Don’t Translate Into Higher Return (The Wall Street Journal)

Pension funds aren’t getting a good deal on Wall Street. The states paying the most to outside money managers have produced lower investing profits than those which have paid the least, according to a new report.Cash-strapped pension funds are increasingly questioning the worth of external money managers. As pension costs absorb a bigger part of government budgets, the sometimes lavish fees paid to hedge funds, private-equity firms and others is falling under harsher scrutiny.

Read the full article in The Wall Street Journal.