FYI: (This Is A Follow-Up Article.)
he state pension fund of Texas is pulling $350 million from Fisher Investments as more investors flee the firm following vulgar comments from its founder.
“With respect to our fiduciary duty, we are defunding Fisher Investments,” the pension said in a statement Friday. Fisher had served as an external manager in the international equities portfolio with $350 million under management as of Sept. 30.
The move by the Employees Retirement System of Texas brings the total reported withdrawals from Fisher to more than $3.1 billion. The Los Angeles fire and police pension board on Thursday voted to yank about $500 million and Goldman Sachs Group Inc. said in a filing Friday it was dropping Fisher as the underlying manager of a global equity fund.
Regards,
Ted
https://www.bloomberg.com//news/articles/2019-10-25/texas-pension-pulls-350-million-from-fisher-in-growing-retreat?srnd=markets-vp
