Calpers 解雇（する）s Merrill, Credit Suisse

By THIS IS MONEY
Updated: 00:00 BST, 11 December 2002

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CALPERS, the biggest 年金 基金 in the US, has 解雇する／砲火／射撃d Merrill Lynch as an international 直す／買収する，八百長をするd income 経営者／支配人 and 解任するd Credit Suisse from its 役割 in hedging $1.4bn(£900m) in 資産s against 通貨 fluctuations.

Merrill, which managed $543m in international 直す／買収する，八百長をするd income for Calpers, was 解任するd because the 年金 基金 thought staff changes 傷つける 業績／成果. Credit Suisse was 解雇（する）d ove r differences in 投資 戦略.

The California Public 従業員s' 退職 System, 長，率いるd by Jim Burton, manages 基金s 価値（がある） $133bn. It said the 解雇／（訴訟の）却下s would not 影響する／感情 the 基金's 仲買業 関係 with either of the 会社／堅いs.

Calpers 広報担当者 Brad Pacheco said that beyond 特記する／引用するing changes in staff at Merrill Lynch he could not 解放（する） その上の 詳細（に述べる）s of why the company was 解雇する／砲火／射撃d. He said the 会社／堅い was welcome to reapply as a 経営者／支配人 in the 未来.

'We look 今後 to watching their 進歩 and we will certainly 招待する them to reapply for 未来 searches,' Pacheco said. 'We believe Merrill has the 能力 to do a good 職業 once it has built up its team.'

Credit Suisse was dropped as a 通貨 経営者／支配人 おもに over a 'philosophical difference', he said, but Calpers staff 追加するd that the 会社／堅い's returns were いっそう少なく than 推定する／予想するd for the period ending 30 September 2002. 'It was one of those things where two professionals agree to 同意しない,' Calpers said. 'The 業績／成果 was a factor but the philosophical difference was a greater factor.'

Calpers also recommended that the 年金 基金 新たにするs the 契約s of six 直す／買収する，八百長をするd-income 経営者／支配人s, 含むing Barings 資産 管理／経営, for a year to 監督する $6.22bn in 資産s.