Disney Hedge Fund Fired By NYC Pensions

Aug 10 2010 | 10:57am ET

A hedge fund founded by a nephew of Walt Disney is among the hedge funds fired by a quartet of New York City pension funds.

Not only was Roy Disney’s Shamrock Capital Advisors fired, it was chastised by three of the funds on their way out, Bloomberg News reports. The three blasted former Shamrock Activist Value Fund manager Dennis Johnson for “failure to devote substantially all of his business time and attention” to the fund, which posted double-digit losses for the Big Apple pensions.

Johnson is now chief market strategist for Comerica’s asset management business.

All told, the four city pension funds invested $275 million with Shamrock. They paid the firm a total of $7.6 in fees to the firm during the three years they invested with it.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of