Thompson on Changing Hevesi's Practices

The city’s top fiscal manager, Bill Thompson, has a largely flattering profile in the latest issue of BuyOut Magazine, a financial trade publication.

At one point, Thompson explains why he diversified the city’s pension fund portfolio to a much greater extent than previous comptroller Alan Hevesi (who later made news as the state comptroller, and continues to now that he left office).

Thompson told the magazine the city now has invested its pension funds mostly in stocks (about 70 percent) and the rest in bonds (about 30 percent).

“I wasn’t trying to undercut the previous comptroller,” Thompson tells the magazine. “I just thought it made more sense…to have a more balanced portfolio perspective, and we tried to do that.”