When you feel like Sisyphus, one day the rock does start rolling down the hill and boy will it be fun when it picks up speed. Maybe people really do care about accountability. The first fight is the PPMs to protect the payment structure. Wouldn't it be nice to see competition in fees; starts with transparency. With the kind of budget these pensions manage, I don't know why they can't hire their own investment staffs. Would cost less than 1% of AUM.
IF STRS does release these documents they will be redacted so much that they will look like a checkerboard!
When you feel like Sisyphus, one day the rock does start rolling down the hill and boy will it be fun when it picks up speed. Maybe people really do care about accountability. The first fight is the PPMs to protect the payment structure. Wouldn't it be nice to see competition in fees; starts with transparency. With the kind of budget these pensions manage, I don't know why they can't hire their own investment staffs. Would cost less than 1% of AUM.
There's all kinds of nastiness in alternative investment PPMs. That's why Wall Street wants to keep the toxic disclosures secret.
Any fix starts with professional oversight rather than the pay to play type of oversight the chairman of most pension boards seems to represent.
My hope is for this to occur in Rhode Island also.