Los Angeles Pulls $500 Million From Fisher as Exodus Mounts

The Los Angeles police and fire pension decided to pull about $500 million from Ken Fisher after a contentious board meeting with representatives from the firm.

The pension on Thursday joined New Hampshire, Iowa, Michigan, Philadelphia, and Boston in withdrawing funds from Fisher Investments following lewd comments made by its founder. The total amount divested comes to more than $2.5 billion.

Ken Fisher

“Fisher’s words reach millions and only do damage,” L.A. pension commissioner Brian Pendleton said at the meeting. “Other pension funds are going to come to the same conclusion and we shouldn’t be the last ones to turn the ...