<p>Last year, managers of California's biggest pension fund invested $25 million of public money into a high-risk hedge fund operated by the family firm of the Republican gubernatorial candidate, Bill Simon.</p>
<p>Yet the public might never know how well the investment performs because the pension fund's 13-member board chose to keep secret the financial performance of the individual funds it invests in. That could change this fall if newly elected board members to the pension fund -- the California Public Employees' Retirement System, known as CalPERS -- decide to release the results.</p>