http://www.bloomberg.com/apps/news?pid=20601087&sid=aS7OvNkZ4fq8&refer=home
Florida Suspends Withdrawals From Investment Pool (Update1)
By David Evans
Nov. 29 (Bloomberg) -- Florida officials voted at a special meeting to suspend withdrawals from an investment pool for schools and local governments after redemptions reduced assets by 44 percent in the past month.
The pool had $3 billion of withdrawals today alone, putting assets at $15 billion, said Coleman Stipanovich, executive director of the State Board of Administration. The board manages the pool along with other short-term investments and the state's $137 billion pension fund.
``If we don't do something quickly, we're not going to have an investment pool,'' said Stipanovich at the meeting in the state capitol in Tallahassee. The fund was the largest of its kind, managing $27 billion before this month's withdrawals.