The Atlanta-based investment firm is hoping to manage a piece of China’s $400 billion national pension fund, betting its record of investing ordinary Chinese citizens’ money could help it win the coveted job.
The firm that works closely with the North Dakota State Investment Board to select investment fund managers receives payments from some firms it recommends to the state — an arrangement coming under scrutiny.
The focus of the pension manager must remain a sharp, near obsessive focus on maximizing the risk-adjusted returns of the pension. Pension managers who want to get involved in political causes should do so on their own time and on their own dime.