By Christine Giordano
David Hunter, formerly the chief Investment officer of TMRS has recently joined DiCello Levitt as an
Advisor. His role will be to help educate fund executives and trustees about investor claims and recoveries for market manipulation which are being increasingly viewed as an separate asset class by public plan sponsors, sovereign wealth funds, hedge funds, and investment managers.
In the US each year, investor recoveries average about $4 billion per year, according to Cornerstone’s annual report on securities class action recoveries, and Global (ex-US) recoveries exceed $3.5 billion per year, on average, according to ISS. Both are expected to continue strong growth in the US and International public equity and debt markets for the next decade.
As Executive Director / Chief Investment Officer for the $20 billion North Dakota Retirement & Investment Office (NDRIO), David recommended the hiring of Patrick Daniels, co-founder and chair of the Securities Practice Group and Roxana Pierce to the North Dakota State Investment Board in a securities litigation claim against a large automotive manufacturer using emissions defeat technology, (software or hardware that interferes with a vehicle’s emissions controls.
Yup Kim has taken over the CIO role at TMRS.
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