Wizard of Omaha has slipped in some subtle advice for funds in Berkshire’s annual letter.
Pension fund defends use of “essential” asset class, despite high fees.
The state’s Public School Employees’ Retirement System says the returns justify the fees.
Pew report says states are paying billions of dollars in unreported fees.
State treasurer expects the move to save the state about $5 million a year in fees paid to managers.