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San Diego County Pension Trustee Decries Investment Strategy, CIO in Newspaper

Samantha Begovich, a trustee for the San Diego County Employees Retirement Association (SDCERA), has penned a column in an area newspaper decrying the fund’s outsourced CIO, Salient Partners, and its investment strategy. The fund voted last year to move on from Salient Partners and hire an in-house CIO after critics called Salient’s investment ...
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Fired CIO of San Diego Pension May Retain Role Until Nearly 2016

Trustees of the San Diego County Employees Retirement Association (SDCERA) voted in November to fire the firm acting as its outsourced CIO, Salient Partners, and hire an in-house official. The pension fund could make that hire by March. But trustees learned this week that Salient Partners could retain its asset management duties until November 2015. The ...
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San Diego Pension to Begin Recruiting New CIO In 2015, But Board Worried Internal Clashes Could Scare Candidates Away

The board of the San Diego County Employees Retirement Association (SDCERA) heard plans to begin recruiting a new chief investment officer in 2015 – including job postings and coming up with a pool of candidates. Previously, it had only been decided that the fund would move on from current-CIO Salient Partners, and a general salary range for the new ...
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San Diego Pension’s Risk Reduction Yields Mixed Short-Term Results

A series of investment policy changes made by the board of the San Diego County Employees Retirement Association (SDCERA) have saved the fund from losing tens of millions – but also prevented the fund from realizing tens of millions in returns during the third quarter. Pension funds are particularly long-term investors and no investment policy should ...
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Questions Raised About “Dual Structure” of Governance At San Diego Pension Fund

Most of the news surrounding the San Diego County Employees Retirement Association (SDCERA) has been about the board’s decision to move on from its outsourced CIO, Salient Partners. But also noteworthy are parts of SDCERA’s governance structure. At least one expert has raised concerns about the effectiveness of the fund’s “dual” reporting ...
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San Diego Pension Begins Transition To In-House CIO

The Board of the San Diego County Employees Retirement Association (SDCERA) moved closer on Thursday to firing Salient Partners, the firm that acts as the pension fund’s chief investment officer. Board members indicated that the firing was all but official, but that the transition to a new CIO still needs to be worked out. From Bloomberg: If the ...
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San Diego Pension Board Votes to Move CIO In-House; Approves Other Governance Changes

The San Diego County Employees Retirement Association formally voted on Friday to begin searching for an in-house chief investment officer to replace Salient Partners, the firm currently serving as the fund’s outsourced CIO. The board also made several changes in governance structure. From the San Diego Union-Tribune: Near the end of a two-day board ...
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San Diego Pension Close to Firing Outsourced CIO, Bringing Investment Management In-House

The San Diego County Employees Retirement Association (SDCERA) is on the verge of firing its controversial outsourced CIO, Lee Partridge of Salient Partners. Board members held a mock vote on the issue, and the firing was “approved” 7-0. If Salient Partners is indeed fired, the SDCERA would move its investment management in-house. More ...
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San Diego Fund Trustee May Have Breached Code of Ethics While Lobbying For CIO

The San Diego County Employees Retirement Association (SDCERA) board voted last week to retain its controversial chief investment officer, Lee Partridge, and his firm, Salient Partners. The vote was 5 to 4, and trustees on both sides of the vote were adamant about their position. But did one trustee go to0 far while lobbying to keep Partridge? Board ...
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San Diego Fund Votes 5-4 To Retain Controversial CIO

After a “tense” five-hour deliberation, the Board of the San Diego County Employees Retirement Association (SDCERA) voted 5-4 to retain its outsourced chief investment officer. The pension fund and its CIO, Lee Partridge, have made headlines in recent months due to their high tolerance for risk and extensive use of leverage. From Chief Investment ...
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