"During the private equity discussion Board Trustee Tanya Woods then asked how often does the Pension Fund hear reports from the other money managers. CIO Vinzons said there is such a large roster of money managers (about 65 funds) that it would be ‘too cumbersome’ to hear from everyone." There are 365 days in a year and you are too busy to spend 65 days (a day per fund) diving into what the returns are on that fund and if you should keep them. No wonder the funding levels in the pension system are so abysmal.
"During the private equity discussion Board Trustee Tanya Woods then asked how often does the Pension Fund hear reports from the other money managers. CIO Vinzons said there is such a large roster of money managers (about 65 funds) that it would be ‘too cumbersome’ to hear from everyone." There are 365 days in a year and you are too busy to spend 65 days (a day per fund) diving into what the returns are on that fund and if you should keep them. No wonder the funding levels in the pension system are so abysmal.
Don’t go the route of Rhode Island. Teachers here are being sacrificed. No COLA for 12 years!
- one of our reader's comments