TITLE

Backlash

AUTHOR(S)
Appell, Douglas
PUB. DATE
November 2003
SOURCE
Pensions & Investments;11/24/2003, Vol. 31 Issue 24, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
11580688

 

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