What would you say is the main responsibility of a pension fund? If you came up with the intuitive “to pay out pensions,” you’re right. Unfortunately, too many pension fund managers seem to treat their role as a soapbox for advocating their personal beliefs using other people’s money. And “Point of No Returns,” a report released this week by the American Council for Capital Formation (ACCF), found that California pensioners and taxpayers will be paying the price for this investment activism.
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