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NYC public pension funds management fees leap 28 percent

For its fiscal year ended June, Gotham funds paid $472.5 million in fees to private fund managers, $100 million more than the previous year.

By Dan Berman | Updated on November 25, 2013

The management fees paid by New York City’s public pension funds surged 28 percent in the last fiscal year, according to the comptroller’s annual report.

For the fiscal year that ended in June, the report said, the five funds that cover the retirement benefits for city employees and teachers paid $472.5 million in fees to private fund managers. That was $100 million more than the previous year. The funds assets rose by 12.1 percent to $137 billion at the end of the fiscal year. Last month, Liu said the assets had climbed to $144 billion.

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