State Employees Association of North Carolina

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SEANC to Cowell: Pull out of hedge funds to avoid run

The State Employees Association of North Carolina is calling on state Treasurer Janet Cowell to withdraw all investments in hedge funds immediately in light of the same move by the California Public Employees Retirement System (CalPERS), the nation’s largest pension fund, Monday.

CalPERS plans to eliminate all $4 billion of its hedge fund investments over the next year.  The impact of this action could potentially lead to a “run on the bank,” with other pension funds and investors pulling out of the now $2.8 trillion hedge fund industry.

If North Carolina waits until other investors have taken their money and assets are devalued, state employees and retirees could lose even more than they already have by being in these risky investments.

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9th

2014-15 Board Training

2014-2015 Board Training

October 9-10, 2014

SEANC Central Office

1621 Midtown Place

Raleigh, NC

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