CHICAGO (June 30, 2008) - This morning, Comptroller Peter Franchot joined with Reverend Jesse Jackson, former Senator Carol Moseley Braun (D-IL), Congressman John Conyers (D-MI) and corporate leaders at the 2008 Rainbow PUSH Coalition Conference in Chicago to discuss ways to increase the number of minority asset/investment managers participating in corporate and public pension funds across the country.

"As our nation's economy changes, we have to wake up to the realization that minority entrepreneurs have adapted as well and run businesses of all kinds. It is long overdue that we apply this same type of 'can-do' attitude and thinking when it comes to our state pensions and the investment/asset managers we hire to manage those funds," said Comptroller Franchot.

As the vice-chair of Maryland's State Retirement and Pension System, Franchot has worked to provide qualified minority fund managers with greater opportunities to manage state pension assets through the Emerging Manager Program. In his remarks, the Comptroller highlighted the results that this program has already yielded within the early stages of its development, noting that 80% of the firms which the state invested in have yielded a positive return.

During the 2008 General Assembly Session, Franchot partnered with members of the Legislative Black Caucus to successfully pass legislation establishing the Maryland Fiscal Management Committee, which is responsible for removing any barriers that limit full participation by minority business enterprises in brokerage and investment management services opportunities.

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CONTACT: Joseph Shapiro, 410-260-7305 (office), 443-871-2244 (cell)