MADISON, Wis. — A Wisconsin state fund said it lost $95 million in an unauthorized bet on the direction of Mexico's currency and interest rates, becoming the latest government entity to lose public money on risky investments.
The $6.7-billion fund, which invests for the state, its retirees and about 1,000 local governments, suffered the biggest investment loss by a municipality since December, when a $1.7-billion loss hit Orange County.
