At issue: allegations of unreported stock transactions and also his holdings in three private equity firms the plan invested in, including Blackstone and Carlyle.
Investments in them could end up in Davy Jones’ locker if the ocean swallows the coastlines.
Investing savants have ideas for you, ranging from preferred stocks to asset-backed securities.
The state retirement system chooses 16-year veteran Dan Bienvenue, who has overseen global equity.
Good news is overshadowed by market reactions to the coronavirus pandemic that have cost the largest US pension plan more than $50 billion.
Starting Monday, spectators will be confined to the pension plan’s auditorium with directors in a separate room, six feet away from one other.
‘You can’t be a gambler, and you can’t profess to have a crystal ball,” says state treasurer Dale Folwell.
The virus-battered stock market may let survivors in this shrinking field show their stuff once more.
Large money managers including J.P. Morgan, Fidelity, and Allianz have lost their relationships with the biggest US pension plan as part of a massive restructuring of CalPERS’s equity program.