New York’s budget, how would you spend it?

The city of New York spent $472.5 million on asset manager fees in 2012/13. The allocation of these funds is part of the $68 billion annual budget the City Comptroller has to run the city of New York.

The bureau of asset management that oversees the $137.4 billion in pensions fits within that budget, but the money it spent on asset manager fees has increased more than the returns it generated. How it reins in those fees will be one of many challenges for the new Comptroller Scott Springer.

What would you do with a $68 billion annual budget?

For the full New York city financial report click here

Sponsored Content

Leave a Comment

Sort content by

Eisman doesn’t see another Big Short

Steve Eisman, whose bet against subprime mortgages was chronicled in a popular movie and book, says reforms have reined in the leverage that led to his ‘end-of-the-world’ short from a decade ago.

Capital markets look strong: panel

Market fundamentals are in great shape and a return to normal volatility won't change that, although debt and cyber-risk are potential dangers, a panel of executives told the Milken conference.

Managers want more public companies

Individual investors are being denied access to tech shares and other growth because fewer businesses are publicly listed, a panel of asset management executives told the Milken conference.

Pensions embrace short-term caution

Large pension funds are being cautious in current markets and are looking to "batten down the hatches", a panel of investors told delegates at the Milken Institute Global Conference in LA.

TCFD advances Carbon Disclosure Project

As the CDP turns 18, its founders’ dream of universal reporting of climate-change data is closer to reality than ever, thanks to standards and guidelines the TCFD has released.

Ambachtsheer’s long-term premium

Finance professor Keith Ambachtsheer has outlined a trio of possibilities for coming decades. One is a rosy outlook, two are more pessimistic. But no matter what, he sees a long-term premium.

Previous