The Wall St Journal reports that the Louisiana state legislative auditor said he is in the early stages of an examination of public pension funds that got advice from a Memphis, Tenn., consulting firm that recommended an unusual investment.
The interest in the funds and the consulting firm, Consulting Services Group LLC, comes after three of the funds raised questions about the investment earlier this month. On Monday, pension-board representatives separately are planning an on-site review at the hedge-fund firm that offered the investment, New York-based Fletcher Asset Management, CSG said.
In 2008, the three Louisiana public pension funds put a combined $100 million in the ...
http://online.wsj.com/article/SB10001424053111904772304576466033661035492.html?mod=googlenews_wsj
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