The very integrity of our financial system, according to one pension fund manager.
He controls department store chain Palacio de Hierro, insurance company Grupo Nacional Provincial and pension fund manager Grupo Profuturo.
FORBES: Mexican Billionaires Have Strong Year, With 18.4% Increase In Wealth
Tom Slee, contributing editor to the Canada Report, is a certified financial analyst, a certified general accountant and a former pension fund manager.
At Benchmark we conduct investigations of pension fund, money manager, pension consultant and brokerage wrongdoing, virtually all on behalf of institutional clients.
Generally, it is the soft dollar broker who has misinformed the pension fund or money manager regarding the propriety of a proposed soft dollar arrangement.
FORBES: Soft Dollar Zone: A Sensitive Area (January 1, 1997)
Should a fund manager vote against, say, a stock-option scheme for executives, they can retaliate by dumping the manager from running the pension fund.
It is not uncommon for a big pension manager to take on a tiny fund as a showcase for the firm's talents.
The consultant keeps the kick-backs paid by the manager for allowing the manager to handle pension assets but the fund is taking all the risk.
FORBES: SEC Scrutiny of Pension Consultants: A Call To Action (February 28, 2004 )
Consultants are selling services to money managers and hosting conferences where their manager clients can, for a hefty fee, meet their pension fund clients.
FORBES: A Proposal For Managing Pension Consultants (September 1, 2000)
There can be conflicts of interest - if a fund manager company is doing other business with a company whose shares the pension fund owns, for example.
This public pension fund is exceptional both in having zero turnover of investment advisors, using a single money manager to oversee 100% of its assets for the past 40 years, and in changing auditors every couple of years.
FORBES: New Red Flags Related to Tampa Firefighters and Police Pension "Audited" Financials
Under any likely scenario, the beneficiaries of the pension fund never learn they have been robbed and other investors that may have been victimized by the manager are never warned.
One pension-scheme manager says he demanded, and quickly secured, a halving of his fee rate from a fund-of-funds.
Pension officials, seeking both to avoid public embarrassment related to hiring the rogue manager and a speedy way to recoup fund losses that are difficult to quantify, agree to the settlement offer and confidentiality provision.
应用推荐