Many of the hedge funds used by New Jersey

Many of the hedge funds used by New Jersey have performed poorly this year. It has money with William Ackman’s Pershing Square Capital Management whose Pershing Square Holdings fund has lost 19 percent this year through July. In its annual report, New Jersey said its hedge funds returned 4.21 percent during fiscal year 2015, lagging the benchmark which gained 6.10 percent.

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