Choppy waters continue for Puerto Rican debtPension reform at the forefront: No longer a backwater issue

Pension deficits at the state and local level can be considerable sources of pressure for municipal markets. Portfolio manager Greg Gizzi briefly describes his team's point of view.

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state and local pensions of always been a factor when evaluating investment opportunities for our funds in a post financial crisis World however the pension deficit issue has become thrust into the Limelight and in 2012 Gatsby or governmental accounting standard boards introduced new standards for public pension Retirement Systems statements 67 and 68 which began in June of 2014 municipalities simply reported whether or not they had made the annual required contribution or Arc and in some cases just simply delayed making them when conditions necessitated it today investors are faced with the world that consists of not only investors but reading agency scrutinizing how they're dealing with these pension deficits so is yours certainly understand the importance of pension deficits in the role they played for investors and we had Taylor would continue to assess these situations as we consider individual opportunities for investment

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