News

The FBI is investigating a cybertheft of $4.2 million from the state’s pension fund for retired Oklahoma Highway troopers, state agents, park rangers and other law enforcement officers. The Oklahoma Law Enforcement Retirement System (OLERS) posted an announcement online about the investigation Thursday, 10 days after the money went missing.

Pension plans that have invested in long bonds would have benefited, according to Northern Trust Asset Management, and Legal and General Investment Management America suggests market volatility can be risk-managed and controlled to a specific target with the use of an overlay.

A Mid-Atlantic pension plan was slated to approve a recommendation to replace a pair of equity managers.

A Midwestern pension plan wrapped up searches for U.S. small-cap growth and emerging market debt managers in July.

Vincent Lu joined Wells Fargo Asset Management as co-head of private strategies this month.

Greg Fitchet, investment officer for the City of Phoenix Employees Retirement System, answers 5 questions from FIN News.