Teacher Retirement System To Talk About Pulling Millions Out Of Scandal-Plagued Mutual Fund
By: Import User
Updated: January 7, 2009
Directors of the states largest retirement
system scheduled a special meeting for Tuesday to discuss pulling
more than 450 million dollars out of a scandal-plagued mutual
fund company. Putnam Investments is accused of defrauding
investors.
Several big state pension funds decided last week to take about
four billion dollars out of Putnam funds following the filing
of civil fraud allegations against the mutual fund company.
David Malone, executive director of the seven billion dollar
Arkansas Teacher Retirement System, said today that the systems
board would hold a teleconference Tuesday afternoon to determine
whether to follow suit.
