Ken Fisher (Photo: GillianneTedder/Bloomberg)

An Iowa pension group is joiningother organizations and pulling its assets out of Fisher Investmentsroughly a week after Chairman Ken Fisher made lewd remarks at anindustry event.

With the move by Iowa PublicEmployees' Retirement System to divest $386 million and a similarstep by Air Products & Chemical, the total amount ofredemptions from Fisher Investments has topped $1.3 billion,according to a Bloomberg report. 

"It is our opinion that Mr.Fisher's comments have damaged the credibility of the firm and itsleadership," the Iowa pension said in a statement shared with thenews group. "As a result, the risk to IPERS is that the firm couldlose investment talent, and/or it may be unable to recruit highcaliber talent in the future."

Earlier in the week, the BostonPension Board redeemed $248 million from Fisher Investments,following a move by Michigan's pension fund to pull $600million. 

The firm, founded by Fisher in 1979, manages about $114 billionin assets as of September, according to a recent interview withits chairman. Its latest regulatory filing from May listsassets of $94 billion.

Fidelity Investments announcedseveral days ago that it "do[es] not tolerate these types ofcomments … and Fidelity Strategic Advisers is reviewing thisrelationship," Bloomberg reported. Fidelity Strategic Advisersoversees managed accounts and lists Fisher as a $500 millionsub-advisor for its $8 billion Small-Mid Cap Fund.

Conference conduct

Fisher made the crudecomments while speaking at a "fireside chat" at the Tiburon CEO Summit onOct. 8. The following day attendee and advisor Alex Chalekian posted a video on Twitter criticizing the remarks; it has morethan 150,000 views.

Afterward, Fisher questioned thenegative attention his comments were receiving, before apologizing.He has been barred from future events organized by TiburonStrategic Advisors. 

One woman present at Fisher's talk is speaking out about whatshe says is the "unchecked bad behavior [that] runs rampant at manyfinancial services conferences." 

Sonya Dreizler, a certified financial planner and head of theconsultancy Solutions with Sonya, has started sharing "real storiesof sexual harassment, assault and discrimination" in the industryin a series ofblog posts that she hopes will inspire furtherdiscussion and change that supports women.

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