Re-Elect Herb Meiberger

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Dec 4, 2016 4 Comments ›› HerbMeiberger

 

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Re-elect Herb Meiberger, CFA, San Francisco Retirement Board Member.

  • Herb has been your Commissioner continuously for 24 years;
  • SFERS investment officer for 20 years;
  • BA in Mathematics and Chemistry, University of South Dakota;
  • MBA, UC Berkeley;
  • Chartered Financial Analyst (CFA);
  • Instructor, Finance and Investments, SF State University, 30 years;
  • Adjunct Professor of Finance, Hult International School of Business.

WHAT HAS HERB DONE FOR YOU?

  • Opposed Hedge Fund investments, obtaining Warren Buffett’s personal advice;
    • Herb is the only Board member who has not drunk the Hedge Fund “cool aide”
  • Championed divestment from tobacco stocks in 1997;
  • Championed divestment from companies doing business in Sudan in 2002;
  • Championed divestment from thermal coal stocks in 2016.
  • Chairman of Environmental, Social, and Governance (ESG) committee in 2014-15
    • Chaired informational meeting on investing in alternative energy – solar, wind, etc.
  • Participated in investment decisions, making our plan among the best-funded in the U.S.

WHY SHOULD YOU VOTE FOR HERB?

  • Only elected commissioner with direct investment experience!
  • Your watchdog overseeing SFERS’ $1 billion Hedge Fund investment, and entire $20 billion Pension Fund;
  • Balanced representation! Miscellaneous members comprise 85% of Plan members, deserving an elected seat at the table like other public pension plans!
  • “Public Safety” shouldn’t hold all three elected seats!

RE-ELECT HERB MEIBERGER:

  • A well-funded pension is the best way of ensuring your COLA’s
  • Herb’s institutional knowledge, experience, and contacts with investment professionals and board members crucial for continuity on the Board
  • Herb is the ONLY candidate with the investment background, education, and skills necessary to manage your pension fund!

Comments

  1. Diane Livia says:

    Please help me understand IFTPE’s opposition to Mr. Meiberger. They are claiming he lost the pension fund several $million. https://www.youtube.com/watch?v=i6KX8XC1PPg&mc_cid=a8edfecdc2&mc_eid=42a9134bf3
    I am planning voting soon, and would like to understand more.

    • Dear Diane: Thank you for your comment. IFPTE’s note is malarkey. Here are the facts. I cite the 12/14/2016 Retirement Board meeting, which is published on the City website. which is at the end of this note. Thank you for your inquiry. Ballots were mailed today by first class mail. All the best, Herb

      >>>

      Did the Fund lose $1.5 million last year?

      Your fund is doing “amazingly well”!
      . At the 12-14-2016 Retirement Board meeting, SFERS’ General Consultant, Allan Martin from NEPC, reported that the Fund’s returns for FY2016, FY2015, and FY2014 were 1.29%, 3.87%, and 18.90%, respectively. Allan Martin stated that the Fund did “amazingly well.” SFERS ranked 16th, 16th, and 3rd, respectively, for the last three fiscal years compared to 50 public pension funds with assets greater than $1 billion.
      . Staff and consultant stated that the portfolio was valued at $20.4 billion on 6-30-2015 and $20.2 billion on 6-30-2016. Since the Fund had a positive rate of return, the $200 million decline in asset value was due to benefit payments.
      . For the 3-year period ended 9-30-2016, the Fund earned 7.20% per year, placing SFERS as the third best performing fund in the universe of 50 public pension funds. No public funds earned returns greater than 7.50%, which is SFERS’s long-term return assumption.
      . NEPC stated: “For the year ending 9-30-2016, the Fund experienced a net investment gain of $1.89 billion, which includes a net investment gain of $764.5 million during the third quarter.” Further, “Assets increased to $20.96 billion from $19.72 billion in the year ended 9-30-16, with $639.79 million in net distributions.”
      . SFERS’s Chief Investment Officer (CIO), Bill Coaker, verified to the full Board that the fund had not declined by $1.5 billion for the year, as stated by MEA (Municipal Executives Association) in an email that was broadly circulated. Separately, Executive Director Huish stated that he would correct this misinformation that was shared with thousands of City employees.
      . For the full discussion, please view Item 8 on the official videotape of the meeting at:

      http://sanfrancisco.granicus.com/MediaPlayer.php?view_id=175&clip_id=26782

  2. Linda Lee says:

    Hi Herb, I’m reviewing the candidates and endorsements, and find your statement above correcting the POB mailing very helpful. Can you tell me whether there is any consideration by the Board about divestment or discontinuing future investment in any companies that are based in Israel, or have direct business with Israel?
    I was glad to see your past divestment support from tobacco and Sudan.
    Thanks for any info.

  3. This non-transparent and systemic cover-up of potential corruption and kickbacks is in play in the insidious slanderous attack on independent SFERS board member Herb Meiberger. Meiberger opposed the the turning over the pension funds to hedge fund operators and also for punishing Wells Fargo bank for illegal activity.

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