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Tag Archive for ‘UC’s Hedge Fund Investments’

Scathing Audit of the University of California’s Budget Finds Hidden $175 million

A scathing audit of the University of California’s budget has uncovered $175 million in hidden dollars. Kathryn Lybarger, President of Local 3299 of AFSCME, the UC system’s largest employee union, says UC routinely cries poverty, cuts services for students while admitting more foreign students who pay higher tuition.

Today’s show 3-15-16

On the broadcast today we had Melissa Cropper, President of the Ohio Federation of Teachers, and she talked about State Report Cards and the International Summit on the Teaching Profession! Our second guest was Claudia Preparata, Research Director for AFSCME Local 3299, and she talked about New Research on Hedge Fund Investments at University of California!

UC to reduce number of hedge fund managers in attempt to decrease costs

UC Chief Investment Officer Jagdeep Singh Bachher recently announced that the university will attempt to decrease its costs by further reducing its number of hedge fund managers, who manage about $2 billion of the university’s endowment of $8.8 billion in assets.

California Endowment to Yank Money From Worst-Performing Funds

The University of California’s endowment, which manages $2 billion in hedge fund investments, plans to pull money from the worst-performing managers and redirect assets to top firms, the state system’s investing chief said.

UC paid hedge funds top dollar for paltry returns

Even after the tripling of in-state tuition, substantial cuts to student services, employee pension reform, the infusion of Proposition 30 funds and a multiyear budget agreement that increases state funding, the University of California remains on unstable and uncertain financial footing.

UC Union Releases Study on Costly Hedge Fund Investments

The University of California’s largest employee union released a study and follow-up report last Tuesday detailing the UC system’s loss of nearly a billion dollars in a series of hedge fund investments over the past 12 years. The report alleges that the UC’s hedge funds have “routinely underperformed,” and may have cost the system more than $950 million dollars in just over a decade.

AFSCME releases critical report on UC’s hedge fund investments

The University of California’s largest employees’ union released a report March 1 detailing what it calls an underperformance of the UC system’s “experiment” with hedge fund investments since 2003.

UC paid billions in fees to hedge funds that only mirrored stock market

Imagine paying one billion in fees and getting the same results if you had just read the financial pages of a newspaper. The big question is who made these decisions? Why did they continue after $200 million, $400 million $750 million was wasted? Instead billions of dollars were given to Wall Street—and the UC officials are still collecting salaries paid by your tax dollars.

Study finds insignificant returns on UC’s $1B hedge fund investments

The University of California’s largest employee union released a study Tuesday that showed the University has paid about $1 billion to hedge fund managers over the past 12 years for no significant increase in investment returns.

University of California Hedge Fund Investments

The University of California paid around $1 billion in fees to hedge fund managers in the last dozen years, the university system’s largest employees union said this week, shedding new light on a round of pension cuts being considered.

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AFSCME Local 3299

AFSCME Local 3299
Headquarters
2201 Broadway Ave, Suite 315
Oakland, CA 94612
(510) 844-1160
1-888-856-3299
Fax (510) 844-1170