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When drama breaks out at the world s largest asset managers, big clients have to make tough choices.
A group of quiet but powerful advisors helps decide what to do when controversies arise.
Often they advise doing nothing but as calls for equity grow, there is more pressure to act.
If a fund manager winds up in the news for the wrong reasons, institutional investors must decide whether to stand pat, put the manager in a penalty box, or fire them altogether.
Behind the scenes, a quiet but hugely influential group often holds sway over how these investors who collectively control some $70 trillion in investable assets on behalf of retired teachers and firefighters, university endowments, charities, hospitals, and more react.
San Joaquin County casts net for core bond managers
San Joaquin County casts net for core bond managers
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San Joaquin County Employees’ Retirement Association, Stockton, Calif., is considering allocating between $100 million and $150 million to a core fixed-income mandate.
Meketa Investment Group, investment consultant to the $3.5 billion pension fund, is assisting with the search.
SJCERA is soliciting proposals to consider adding a new manager to its fixed-income portfolio, said Johanna Shick, CEO of the pension fund.
“If we decide to add a new manager, we will determine what, if any, changes to make among our existing managers,” Ms. Shick added.
Some US Pensions Put PIMCO on Watch List over Gender and Pay Discrimination Lawsuits
Posted on 04/01/2021
Pacific Investment Management Company, LLC (PIMCO), part of Allianz SE, is facing accusations by five current and former female employees alleging gender and pay discrimination, sexual harassment, and other employment issues. The lawsuit was filed in November 2020 being led by PIMCO vice president Sue Collazo and project manager Lisa Anthony. PIMCO has categorically denied the claims alleged in the suit. The asset manager claims the sexual harassment allegations are “salacious and unfounded”.
Amanda Thiem, a former chief assistant to Brent Harris (former chairman of PIMCO funds), claims she was demoted after advances from her boss. She also claims she was sexually harassed by men at the firm. The lawsuit claims PIMCO operates as a fraternity that favors white men.
San Joaquin County Employees puts PIMCO on watch pionline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pionline.com Daily Mail and Mail on Sunday newspapers.