PROVIDENCE – Fidelity Investments was selected Wednesday as the vendor of the Ocean State Investment Pool, an initiative passed in the General Assembly in June to help state and municipalities improve their liquid asset investments…
“In these challenging times, the Ocean State Investment Pool will help local government leaders across the state invest their cash and other liquid assets,” said General Treasurer Gina M. Raimondo, who chairs the State Investment Commission.
“This program will allow Treasury to extend its expertise to municipalities and improve investment returns by creating economies of scale,” she said.
The OSIP is slated to launch in the first quarter of 2012…
Conflict of Interest? Maybe, Maybe not… Let’s hope the awarding of the 401K vendor contracts under the new pension reform law remain conflict of interest free.
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