The city of Boston’s pension board will join Philadelphia and the state of Michigan in divesting from Fisher Investments reports Bloomberg’s Janet Lorin, writing:
“Boston will not invest in companies led by people who treat women like commodities,” Mayor Martin Walsh said in a statement Wednesday. “Reports of Ken Fisher’s comments and poor judgment are incredibly disturbing.” The city’s pension board will pull $248 million.
Fisher Investments is seeing a growing backlash since the firm’s founder made offensive comments about women, spoke of genitalia and then failed to immediately understand the gravity of his words. The firm, which manages $112 billion, is also facing scrutiny from several other pension funds which are examining their business with Fisher.
The State of Michigan Retirement Fund’s pension account ended its relationship with Fisher’s firm, which managed $600 million for the state. The Philadelphia Board of Pensions also plans to divest $54 million in assets from Fisher.
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Investing guru Ken Fisher under fire after offensive comments made at private event
Originally posted on Your Survival Guy.