According to financial documents reviewed by the International Business Times, Paskin-Jordan has invested her personal funds in a firm called GMO, which also manages almost $400 million of the San Francisco pension system's money. The documents show that Paskin-Jordan invested in GMO while handing over far less money than the fund's stated minimum investment -- a potentially valuable perk.
Like many cities and states across the country, San Francisco has rules designed to prevent people who manage pension systems from placing personal money in the same entities in which public funds under their supervision are invested. Such rules are designed to prevent Wall Street money managers from courting investment from public pension systems by doling out special terms on the personal investments of pension overseers.
Disclosures that Paskin-Jordan may have run afoul of such restrictions have prompted calls for special scrutiny.
"The ethics commission needs to thoroughly review this," San Francisco Supervisor John Avalos told IBTimes after the details of the documents were described to him. He is one of the elected officials set to vote this coming week on whether to ratify or reject Mayor Ed Lee's reappointment of Paskin-Jordan to the board.
http://m.ibtimes.com/investment-san-francisco-pension-official-raises-questions-about-favors-1752550
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