Calpers did not notice price discrepancies in FX Cartel case

“If I had, I would’ve said something earlier,” managing investment director tells court

Calpers is the largest public pension fund in the US

An employee of the California Public Employees’ Retirement System has said he is unaware of any pricing issues that the pension fund had with the foreign exchange dealer banks that employed three UK nationals currently on trial for price manipulation.

Daniel Bienvenue, a managing investment director for global equity at Calpers, also said he does not know if the firm received the worst price on the six trading days presented by the government to the court on a spreadsheet on October 11.


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