Public Fund Managers Are Looking For Ways To Manage Their Own Money

Sovereign wealth fund managers and public pension fund managers have historical paid high fees to Wall Street hedge funds and private equity firms for money management.  They pay around 6% to these funds in search of higher yields.  Lack luster performance by these funds, and their high fees, have led many of them to find ways to manage their own money.  This article describes some the efforts that are underway to reduce their reliance on Wall Street.