Too bad the ideological schmalz is being laid on too thick for them actually to get to the real question: why are state pension managers investing the money so badly? This article could just as easily have been written by a right wing libertarian magazine about how government money managers are wasting everyone's money.
My guess, knowing nothing about the subject, is that "alternative investment" funds wine and dine the pension managers a lot more than a boring index fund will.
My guess, knowing nothing about the subject, is that "alternative investment" funds wine and dine the pension managers a lot more than a boring index fund will.