Public equity and bonds are at pretty reasonable rates - 0.46% and 0.01%, although I pay less in my 401-K for my stock portfolio, so I still think 0.46% is pretty high.
But the real shocker is in the alternatives space. Here the fees range from 1.01% to 1.78%! The worst offender being pure "Alternatives" which includes hedge funds. Oh, and this category earned a 5.53% in return.
There is no excuse for this. This is a handout to Wall Street from the tax payers of North Carolina - plain and simple.
We can internally manage bonds but not common stock?? That 148mn fee on 'public equity' is a disturbing figure not to mention your repeated points on 'alternative assets' and their merits (or lack thereof actually). How has this gone on so long? It should be clear enough to any financial professional numorous solutions.
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