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In 2024, their sophisticated investments have underperformed a simple passive benchmark by over 10%, which harmed their performance bonuses. They responded not by changing their investment strategy, but by CHANGING THE BENCHMARK.
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Why in the world are we paying over 2100 people to do a worse job than a passive index-based strategy that could be executed by a dozen people? crr.bc.edu/canada-pensi...
crr.bc.eduCanada Pension Plan Falls Short of Indexed Benchmark