THE Retirement Fund will not get anything from the $100 million settlement that financial consultant Merrill Lynch is offering because there was no evidence that it was among the clients misled by the firm’s analysts, officials said.
Kathleen Troy-Rucker, the Fund’s general counsel, said the CNMI has nothing to gain from the settlement. Merrill Lynch’s Hawaii office is handling the Fund’s’s assets estimated at over $350 million.
“We don’t think that we lost any money. We don’t even have any evidence that any of our investments were affected by this,” Troy-Rucker said. “To my knowledge, the Fund doesn’t have any money invested in the investments that are the subjects of the research of the Attorney General’s Office in New York.”
