Fri, Mar 31, 2017
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: FS Investments launches energy fund[more]

    Bailey McCann, Opalesque New York: $19 billion Philadelphia-based FS Investments has launched a new interval fund which will invest in energy. The FS Energy Total Return Fund is the firm's first closed-end interval fund and will invest opportunistically in energy companies and assets. FS

  2. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  3. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  4. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  5. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less