State Retirement System dumping Mutual Fund Company - KAIT Jonesboro, AR - Region 8 News, weather, sports

State Retirement System dumping Mutual Fund Company

November 5, 2003  -- Posted at 7:17 AM CDT

LITTLE ROCK, AR --The board of the Arkansas Teacher Retirement System is dumping a troubled mutual fund company that has managed more than 500  million dollars in investments for the seven billion dollar system.

Trustees of the state's largest retirement system followed the lead of several big-state systems that have pulled money invested with Putnam Investments. Putnam faces federal allegations of defrauding investors.

 The Arkansas system's consultants and staff recommended the move.

The board said it would move the international investments to a custodial investment firm -- State Street Corporation of Boston -- until it hires a new investment firm, most likely in December.

Copyright 2003. Associated Press All Rights Reserved. This information may not be published, broadcast, rewritten or redistributed.

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Students move in to A-State campus for new school year

    Students move in to A-State campus for new school year

    Saturday, August 18 2018 6:19 PM EDT2018-08-18 22:19:57 GMT
    Saturday, August 18 2018 6:57 PM EDT2018-08-18 22:57:13 GMT
    (Source: KAIT)(Source: KAIT)

    Hundreds of students moved into dorms on the Arkansas State University campus on Saturday.

    Hundreds of students moved into dorms on the Arkansas State University campus on Saturday.

  • Inmate death investigation in Pemiscot Co., MO

    Inmate death investigation in Pemiscot Co., MO

    Saturday, August 18 2018 4:32 PM EDT2018-08-18 20:32:05 GMT
    The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff. (Source: KFVS)The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff. (Source: KFVS)

    The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff.

    The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff.

  • Suspect escapes police custody, found hours later

    Suspect escapes police custody, found hours later

    Friday, August 17 2018 6:21 PM EDT2018-08-17 22:21:27 GMT
    Saturday, August 18 2018 11:00 AM EDT2018-08-18 15:00:53 GMT
    (Source: KAIT)(Source: KAIT)

    Corning Police spent several hours searching for a suspect who fled on foot on Thursday.

    Corning Police spent several hours searching for a suspect who fled on foot on Thursday.

Powered by Frankly