As investors push redemptions to over $3 billion in assets, Fisher Investments founder and Chairman Ken Fisher — whose crude remarks at an industry event earlier this month prompted the withdrawals — says that employees at his locations in Camas, Washington and elsewhere need not fear losing their jobs.
“As our town’s largest private sector employer, I want to assure you: none of this will have any measurable impact on any of you,” he said in a column for a Camas paper late Friday. “The firm, overall, is strong, vibrant and continuing to grow despite these stories.”
The investment group had about $114 billion in assets under management as of September — meaning that the loss of $3 billion represents just shy of 3% of total AUM.
Public pension holdings, though, totaled about $11 billion last year; some $2.4 billion of withdrawals have been from these entities — and thus account for a 22% decline in this segment.
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In his remarks, Fisher also explained that the firm leads will keep hiring.