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‘Massive Fiduciary Breach’: Missouri Pulls $500M Worth of Pension Funds From BlackRock’s Control
(Daily Signal) Missouri State Treasurer Scott Fitzpatrick announced on Tuesday that the state’s pension fund is selling all of its assets that are managed by BlackRock, a move that will divest up to $500 million from the asset manager.
The Missouri State Employees’ Retirement System is withdrawing its assets from BlackRock’s control because the state believes that the company is using its control of pension funds to push a “left-wing” agenda, as opposed to making money for its clients, according to a press release.
Missouri joins several other Republican-run states that have also pulled funds from BlackRock for similar reasons…Read the rest