Nice job Illinois taking advantage of the best stock market in decadesArchived Message
Posted by Worker A on January 2, 2020, 2:35 pm
The Illinois Municipal Retirement Fund is pulling about $1.1 billion from BMO Global Asset Management due to poor performance.
The pension fund is terminating a portfolio of U.S. large cap value stocks managed by BMO and plans to oversee the money internally, according to a statement issued on Monday.
“Both performance and the opportunity to save fees by managing the money internally were factors,” John Krupa, a spokesman for the Oak Brook, Illinois-based organization, said in an email.
Earlier this month, the California Public Employees’ Retirement System said it would reduce the use of external emerging equity fund managers.
on January 2, 2020, 2:35 pm