FAS report on New York City Bureau of Asset Management released
On January 26, 2015, New York City Comptroller Scott Stringer released the “Management and Operations Study and Best Practices Review” report Funston Advisory Services prepared as part of our assessment of the NYC Bureau of Asset Management (BAM). BAM invests and manages $160 billion in funds on behalf of the five major New York City retirement systems. The press release can be viewed here.
The full FAS report is available on the Comptroller’s website here.
Media reporting which referenced our report included:
The New York Times: “New York City’s Pension System in Danger of ‘Operational Failure,’ Report Says”
Pensions & Investments: “NYC Retirement Systems faces high ‘operational risk’ without reforms — report”
ai-CIO.com: “'Serious Issues' in NYC Pension Investment Operations”
Reuters: “NYC's pension operations need to be brought into 21st century: comptroller”
Plansponsor.com: “Report Reveals Stress Points in NYC Pension System”
The Bond Buyer: “Stringer Wants Asset Management Bureau Changes”
The Brian Lehrer Show, WNYC (radio interview with Comptroller Scott Stringer): “Comptroller Vows to Reform Dated Bureau of Asset Management”
