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Investment managers report positive monthly gain for Norwalk pension but flag UBS/First Brands exposure
Summary
Investment managers told the Norwalk pension board the fund rose about $8.5 million in September with a fiscal‑year‑to‑date return near 4.9%, but flagged exposure to First Brands bankruptcy tied to UBS co‑investments and recommended a follow‑up with UBS.
Investment managers reported a strong September for the Norwalk City pension fund and briefed the board on a bankruptcy exposure tied to First Brands and UBS co‑investments.
The manager (Speaker 7) said the pension fund grew by just over $8.5 million net of distributions for the month of September and that the fiscal‑year‑to‑date…
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