Mon, Aug 3, 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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Opalesque Roundup: Hedge fund assets rose to 11th consecutive quarterly record level: hedge fund news, week 31[more]

    In the week ending 24 July, 2015, the total global hedge fund industry assets rose to the 11th consecutive quarterly record level in 2Q15 to $2.97tln; Eurekahedge reported that hedge funds raised $93bn in the first six months of 2015; The SS&C GlobeOp Forward Redemption Indicator for July 201

  5. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

 

banner