Ariad Pharmaceuticals Inc fka ARIA

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I doubt it. Public pension fund portfolios are full of more speculative investments than ARIA (e.g., VC, highly leveraged commercial real estate). Also for the most part they make investments through advisors, mainly for their expertise but partly to shield them from blame when things go wrong.

That said public pension plan officials are notorious for a different type of breach of fiduciary responsibility - feathering their own nests at the expense of benificiaries. This type of activity tends to get a lot of press.