Investments, but i just have to say there is a principal in the charter that its called the precautionary principal and it mandates that we have investments that environmentally safe and positive and also in terms of health. We dont know what happens with these investments and where are they going and what the ethics are and after reading that business about 16 million being lost because someone was behaving and i have to say it didnt look very ethical. I wonder who you have as investors. Thank you. [ applause ] good afternoon, commissioners. I have prepared a statement of 149 words in total that i would like to be entered into minutes so i will hand my statement over to the secretary. Deja vu. I will say it again, deja vu. I i do not mean the song recorded by dion warwick. What i mean is bu fu. Are you crazy . Despite the fact this city made millions from the. Com boom. There is two grand jury reports. City hall remains very silent on this very important issue. In my opinion to invest
Member since 1972. I do not want hedge funds as part of the portfolio. Everyone who has spoken especially the last speaker has said what i wanted to say. This business of the risk taking and adding it to other risk. There are risks in some of the other investments as well like private equity. I dont think that a pension fund is a place for that level of risk taking. The thing that really gets to me is the lack of transparency in hedge funds, and a lot of us that live here and this is reflective of our culture, staff stating due to a lot of speculation and gentrification that this all goes upon us now, hedge funds are indicative of that. True, according to what i have read and i have read a lot online about hedge funds and a lot of negative stuff and we cant check or the board cant check where those investments go. We want positive investments. I never realized until i started looking online as to how much investments or how investment could be used to change the world. As you are inves
To look at the individual investments, but i just have to say there is a principal in the charter that its called the precautionary principal and it mandates that we have investments that environmentally safe and positive and also in terms of health. We dont know what happens with these investments and where are they going and what the ethics are and after reading that business about 16 million being lost because someone was behaving and i have to say it didnt look very ethical. I wonder who you have as investors. Thank you. [ applause ] good afternoon, commissioners. I have prepared a statement of 149 words in total that i would like to be entered into minutes so i will hand my statement over to the secretary. Deja vu. I will say it again, deja vu. I i do not mean the song recorded by dion warwick. What i mean is bu fu. Are you crazy . Despite the fact this city made millions from the. Com boom. There is two grand jury reports. City hall remains very silent on this very important issu
The supervisor said i want to get a lot of money. So do i. Thousands of city workers signed petitions saying they dont want their what the city workers think and i think thats a statement really of the problem that we have here. The city workers retirees an active city workers have a right to have a pension fund that is going to be secure and theyre very concerned that proposals to turn it into hedge funds will put their pensions in jeopardy and the fact that you have somebody who sells Pension Funds, who invests in Pension Funds and is on the board and youre going to be reappointing this person to a five year term, what does that tell me an otherwise city workers . That you would have somebody that has a personal conflict of information on the pension board, whos questioning were having a trial. Ed lee was informing about this conflict of interest before he reappointed here and he continued to reappoint her. That tell ls me this mayor is not concerned about the retirees and active wor
The connection theyre trying to make here is that wendy paskinjordan has been a barrier to the Due Diligence of the board finding out whether or not they are sitting on significant carbon risk. I would say that its up to this board here to up hold the integrity of its board through this. And theres a difference between intent and action. Theyre very separate things and although intentd is significant the action is without a doubt where the rule was broken. So when funds were traded after ms. Paskinjordan was on the board that seems like a very strong indicator for an ethics violation and this is the opportunity to keep the first board at the highest caliber business examining this further. Thank you. Hello, im a San Francisco resident and member of fossil free San Francisco as well. I think the previous comments, i have heard an explicit call that she not be reappointed and they were basically giving their reasons why they dont think she is adequately representing her fiduciary duty on