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Securities Law

Washington and Lee University School of Law

Pension plans

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How Did We Get Here? Dissecting The Hedge Fund Conundrum Through An Institutional Theory Lens, Cary Martin Shelby Jul 2019

How Did We Get Here? Dissecting The Hedge Fund Conundrum Through An Institutional Theory Lens, Cary Martin Shelby

Scholarly Articles

This article dissects both the origins and resulting harms of what the author terms the "hedge fund conundrum," in which institutional investors, such as pension plans and endowments, have consistently increased hedge fund allocations over the past decade despite pervasive evidence of excessive fees and subpar returns. It then utilizes an historical institutionalist lens to examine how lawmakers may have enabled a conundrum of this magnitude. By and large, this phenomenon is a symptom of regulatory loopholes that have permitted the private hedge fund market to increase in "publicness" through its expanding access and subsequent harm to retail investors. Such …


Employee Plan Trading In Commodity Futures, Thomas A. Russo, Stephan G. Bachelder, Bronislaw E. Grala Jun 1980

Employee Plan Trading In Commodity Futures, Thomas A. Russo, Stephan G. Bachelder, Bronislaw E. Grala

Washington and Lee Law Review

No abstract provided.