entirely on hedge funds.
marc levine eversees $20 billion
in funds
great to see you in person
>> great for having me back.
>> this is an incremental move
away from hedge funds, but now
it is zero
>> now it is zero.
>> what prompted you to move
completely to zero
>> it was a two-step process
the first step about 18 months
ago, shortly after i was elected
chair, we went from 10 to 3%
and that process, we really
followed the guiding -- we
basically followed the guiding
light of groucho marcks, you
know, the hedge funds you want
to be in are the ones that don't
want you
we had 65 open funds, we
terminated all but one of them
and we had a bunch of closed
funds and we kept almost all of
them
and it was really all based on
performance.
and as i mentioned to you in the
past, the performance of the
portfolio really, really good.
so, now we've got a smaller
portfolio, right, heading into
last weak.
17 names
and we've sort of looked at it
and not all of they will, but
most of them are really...