Chicago Teachers’ Prepares to Pull Wamco Fund Investment

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Western Asset Management,Wamco,Bond Funds

(Bloomberg) -- The Chicago Teachers’ Pension Fund is preparing to liquidate its investment in one of Western Asset Management Co.’s flagship bond funds, in...

-- The Chicago Teachers’ Pension Fund is preparing to liquidate its investment in one of Western Asset Management Co.’s flagship bond funds, in an early sign of the potential fallout from federal investigations into the firm.How the Cortiços of São Paulo Helped Shelter South America’s Largest City

The next meeting of Chicago Teachers’ board of trustees is scheduled for Sept. 19, the earliest date for it to take action, according to its statement. The firm, which is also conducting its own investigation, is looking into 38 accounts across three strategies, a person with knowledge of the situation said at the time. That review hasn’t found evidence that Leech had personal or professional motivations to favor one strategy over another, the person added.

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