Friday, September 20, 2013

How to waste $15 million of the state's money.

Apparently the NC pension fund just put about $1 billion into alternatives.   We don't know the fees on these products, but assuming 1.5% (which is roughly what the state pays on similar "investments") the total fees resulting from this move will be about $15 million (and that's just this year).



HT:Ron.