BUSINESS
10/07/2014 07:03 pm ET Updated Oct 07, 2014

San Francisco Hedge Fund Proposal Raises Conflict Of Interest Questions

AP

This week, officials in San Francisco may vote on a proposal that could shift billions of dollars of the city's pension portfolio from plain vanilla investments such as stocks and bonds into hedge funds that charge substantially higher management fees. As they mull that move, municipal pension overseers are drawing on the counsel of a company called Angeles Investment Advisors, one of a crop of consulting firms that has emerged across the country in recent years to aid municipalities in navigating the murky waters of managing money.

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