Concerns are growing among Maryland state retirees and outside observers about the $67 billion pension fund’s management, particularly regarding its $800 million in annual fees and investment choices flagged by a bond-rating agency, according to The Baltimore Banner.
The fund’s exposure to alternatives investments like private equity, real estate, and hedge funds has resulted in disappointing performance compared to other states. Retirees argue that a simpler, low-cost investment strategy would better serve the 420,000 Maryland retirees who depend on the fund.
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