With good results in hand, he is shifting the allocation of his California transit agency pension fund and health care trust, aiming for still better performance.
Tag: index funds
But will index funds hold on to their appeal if US stocks hit a bear market in the next year or two?
Result: Small-cap and value stocks end up neglected, Michael Burry says.
That’s how lock-up companies, in poor odor lately, end up in top pension portfolios.
Indexes now make up a bit more than one-third of funds, but will reach 50% in two years, the agency says.
Fund adds $125 million to reach $8.4 billion, beats benchmarks.