Sun, Mar 29, 2015
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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner