[krupan]

Is the manager of that fund really "top talent?" How hard is it really to make 25% off of $1.6 trillion? I'll bet you could do it.

Also, that's a very different job than working at a hedge fund. Hedge funds have to attract investors. How do they do that? By saying, "look at the expensive managers we have!" A government pension fund doesn't have to do that.

[fatnoah]

I wanted to accuse you of being preposterous, but it looks like S&P 500 grew 24.1%, Dow 13%, and Nasdaq 43% in 2023. A basket of investments spread evenly across those would have returned around 26.7%.

[orangecat]

How hard is it really to make 25% off of $1.6 trillion?

Consistently? Basically impossible.

[red-iron-pine]

aye. S&P is up like 25% and lots of other markets are way up too. at this scale you're going to have returns that look like the global market, esp. if you're diversifying and taking relatively risk-averse choices.

[TrackerFF]

Well, prior to joining the fund he had (still has) a hedge fund and is worth close to a billion, and is otherwise on par with the other hedge fund managers you'll find out there (elite education, good "pedigree" and all that).

Of course, government pension funds have much stricter investment guidelines. And there are ethical investment guidelines on top.

Their goal is never go chase the absolute largest returns, as the risk / investment guidelines would prohibit that.