View Full Version : Intel shunts retirement plan outside

15th August 2002, 11:26 AM
A STORY ON DOW JONES said that Intel has shunted its profit retirement plan to a third party an investment manager who it refused to name.
This is mysterious. The explanation given by Intel to Dow is that the funds, worth an estimated $2 billion to $3 billion, was a cost cutting scheme and needs a lot of managing.

Even more mysterious. When Intel was one of the biggest venture capital firms in the known cosmos, back in the heady days of 2000, it appeared to have no difficulties managing a fund of $10 billion or even more.

And the wire quotes a representative as saying that the move has nothing to do with its accounts, because it never appeared on its balance sheet.

Dow Jones contacted Intel because of a difference between an SEC form 13F filed last week and a 13F filed on the 31st of March.

The later one reveals that its investments were worth $341.5 million in 326 companies.