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Pension board rescinds remaining real-estate redemptions from Morgan Stanley, keeps income to cash
Summary
Trustees voted to rescind outstanding redemption requests from Morgan Stanley for the plans' real-estate allocation and to continue sending the managers' income distributions to cash, pausing further redemptions.
The Allentown Pension Board voted May 20 to rescind the remaining outstanding redemption requests previously submitted to Morgan Stanley for the plans' real-estate allocation and to continue having income distributed from that manager paid into fund cash accounts.
The motion, made and seconded on the record, passed by roll-call vote. Bina Patel, Jeff Glaser, Evie (Ebi) Balag, Alex Scribe, Rob Bush, Andrew Weiss, John Strobula and Darrell Hendricks recorded votes in favor; no trustees voted against the rescission…
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