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The hedge fund model has been under attack for decades, at least since the financial crisis, but assets under management continue to surpass records. Christopher Ailman oversees the nation’s second-largest public pension fund, CalSTRS, with $300 billion under management. Here he is, in conversation with Leslie Picker, on the high price of delivering alph

- A word from our sposor -

Head of the second-largest U.S. public pension fund says active managers rarely added value