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Keyword: pensionfees

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  • Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains

    04/13/2015 12:02:34 PM PDT · by NRx · 24 replies
    NY Times ^ | 04-08-2015 | PATRICK McGEEHAN
    The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office. The analysis concluded that, over the past 10 years, the five pension funds have paid more than $2 billion in fees to money managers and have received virtually nothing in return, Comptroller Scott M. Stringer said in an interview on Wednesday. “We asked a simple question: Are we getting value for the fees we’re paying to Wall Street?” Mr. Stringer said. “The answer, based on...