Appell, Douglas
November 2003
Pensions & Investments;11/24/2003, Vol. 31 Issue 24, p1
Public pension fund officials are seizing the opportunity to be enforcers, firing ethically challenged money managers and mapping out new rules of engagement for sponsor-manager relations. The backlash against errant money managers is broadening from its initial focus on Putnam Investments Inc. to other tainted companies. The $40 billion Washington State Investment Board, Olympia, has terminated Putnam as manager of $585 million in international equities. The action sends a clear message that the board has lost confidence in Putnam. In recent weeks, the list of money managers being terminated or put under review has expanded.


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