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The article reports that a video recording between representatives of hedge-fund company Fletcher Asset Management and pension fund Firefighters' Retirement System of Louisiana shows Denis Kiely of Fletcher telling the fund it would be able to withdraw any money invested with Fletcher within weeks. Firefighters' subsequently invested and has had trouble getting its money returned.

The article reports that three Louisiana public pension funds say they will launch an examination of the financial records of hedge fund Fletcher Asset Management. The funds, which collectively have $100 million invested with Fletcher, acted after Fletcher responded to their requests for redemptions by issuing promissory notes.

The article looks at FrontPoint Partners LLC, focusing on how the firm's insider-trading scandal has caused Michigan's state pension fund to pull its remaining $375 million in investments from FrontPoint's flagship hedge fund. Information on the FrontPoint insider-trading scandal is presented, noting that a French doctor was arrested for disclosing confidential information on drug trials.

The article discusses the impact on pension funds of a U.S. probe into insider-trading that has focused investigators' attention on hedge funds including Level Global Investors LP and Diamondback Capital Management LLC. The School Employees Retirement System of Ohio has invested in both funds, and thus far has made no effort to withdraw any of its money.