{"id":9797,"date":"2009-02-04T00:00:00","date_gmt":"2009-02-04T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"pension-fund-fires-2-money-managers","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2009\/pension-fund-fires-2-money-managers.html","title":{"rendered":"Pension fund fires 2 money managers"},"content":{"rendered":"<p>Boston Globe &#8211; The Massachusetts state pension fund fired two money managers yesterday for poor performance, including one that had lost $12 million investing with accused swindler Bernard L. Madoff.<\/p>\n<div>\n<div class=\"embed\" \/><\/div>\n<p>Austin Capital Management, which had managed $170 million in state retirement funds, was fired after it lost $40 million, including the money invested with Madoff and $28 million from market declines. The state withdrew its remaining $130 million from Austin, which runs a &quot;fund of funds,&quot; a middleman that takes investors&#8217; capital and spreads it among other money managers, including hedge funds.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.boston.com\/business\/articles\/2009\/02\/04\/pension_fund_fires_2_money_managers\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston Globe &#8211; The Massachusetts state pension fund fired two money managers yesterday for poor performance, including one that had lost $12 million investing with accused swindler Bernard L. Madoff. Austin Capital Management, which had managed $170 million in state [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4608,1913,6937,4249,6585,6940,170,603,6939,6938,187],"class_list":["post-9797","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-boston-globe","tag-capital-management","tag-investors-capital","tag-madoff","tag-massachusetts-state","tag-middleman","tag-money-managers","tag-poor-performance","tag-retirement-funds","tag-state-retirement","tag-state-pension-fund"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9797"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9797\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}