- Fisher Investment clients have divested more than $1.3 billion
- Boston, Philadelphia and Michigan among pensions to divest
The Iowa Public Employees’ Retirement System is yanking the $386 million it has invested with Ken Fisher after the billionaire made vulgar comments at an industry conference.
The move brings the total amount divested from Fisher Investments to more than $1.3 billion. Air Products & Chemical Inc. said earlier Friday that it was pulling $30 million from Fisher.
“It is our opinion that Mr. Fisher’s comments have damaged the credibility of the firm and its leadership,” the Iowa pension said in a statement. “As a result, the risk to IPERS is that the firm could lose investment talent, and/or it may be unable to recruit high caliber talent in the future.”
Bloomberg Markets
By Janet Lorin
October 18, 2019, 10:23 AM PDT Updated on October 18, 2019, 2:34 PM PDT