Fri, Oct 31, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Teachers’ union hits out at hedge fund managers who support groups that attack traditional pensions

Thursday, April 18, 2013

From Komfie Manalo, Opalesque Asia – The American Federation of Teachers, the second largest teachers' union in the U.S., is set to release today a report listing at least 34 hedge funds executives and other investment firm whom they say support groups that attack traditional pensions despite getting allocations from public pensions.

In a report by The Journal, it said that the teachers’ union accused several prominent hedge fund managers of making contributions or helping organizations that have a hostile stance toward traditional public pensions.

Michael Powell, an assistant to the union's president, Randi Weingarten was quoted as saying, "Does the American Federation of Teachers think they should divest [from firms named in the report?] The answer would be yes."

The group called on the trustees of public pension funds to revisit their relationship with hedge fund managers and executives of investment firms that were on the list and urged them to be very selective when allocating their money with a specific fund manager.

The American Federation of Teachers is estimated to have an aggregate asset size of $800bn and its members are across the U.S.

Jay Rehak, president of the Chicago Teachers’ Pension Fund told The Journal that he has serious reservations against "people thinking they can play both sides." He accused those executives on the list ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Macks aim to raise $750m for real estate debt fund[more]

    From Therealdeal.com: Father-son duo William and Richard Mack and former Blackstone Group managing director Peter Sotoloff are starting a new real estate debt fund. Together, the trio hopes to raise more than $750 million for the private equity fund, according to the Wall Street Journal. The fund wi

  2. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  3. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  4. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  5. Manager Profile - Seth Klarman: Lessons for retail and institutional investors[more]

    From Valuewalk.com: Seth Klarman is virtually unknown outside value circles, despite his impressive record and value of assets under management. On average Baupost has returned 19% p.a. despite holding a large portion of its assets in cash. During the financial crisis, Seth Klarman’s funds lost some