The Los Angeles Water & Power Employees' Retirement Plan placed international equity managers MFS and INVESCO on watch because of market-timing allegations against the firms, said Sangeeta Bhatia, assistant retirement plan manager. MFS manages $250 million for the plan; INVESCO was hired to manage $270 million, but the portfolio has not yet been funded.
David Oliveri, MFS spokesman, and Bill Hensel, spokesman for INVESCO parent AMVESCAP, would not comment.
