Wednesday, May 2, 2012

Pension Funds on Wal-Mart - Why They Care

As per Wal-Mart's latest, we see why public pension funds care - Various New York City pension funds, collectively, own roughly 4.7 million shares and will vote against five Wal-Mart directors up for re-election next month at an annual shareholder meeting.

Presumably, other pension funds care given such ownership positions: Florida State Board of Administration - 3,655,664 shares, Ohio Public Employees' Retirement System - 2,234,947 shares, and the North Carolina Retirement Systems - 1,336,382 shares, as of December 31, 2011, to name a few.

If these Wal-Mart directors stay, how will the "smart money" respond?