NEW YORK, May 22 (Reuters) - A New York City administrative agency ruled on Friday that conflict of interest rules also apply to people who manage its five public pension funds.

The ruling came in response to the request of a city pension trustee who wasn't named. An expert said the timing was "coincidental" with New York state Attorney General Andrew Cuomo's ongoing investigation into what Cuomo says were millions of dollars of kickbacks paid to politically connected individuals by investment firms seeking to manage the state's $122 billion pension fund.

Cuomo's probe, which has links to New York City's pension fund and pensions in New Mexico, Los Angeles and California, led him to propose an anti-graft code of conduct to limit campaign contributions and ban paid intermediaries, lobbyists, lawyers or placement agents, from using their political ties to win business for the investment firms that hire them.

New York City's Conflicts of Interest Board can impose civil fines.

New York City's anti-corruption rules, which the Conflicts of Interest Board help enforce, are wide-ranging. They cover everything from $50 yearly limits on gifts to barring public servants from using their positions to benefit themselves or their families or owning firms that do business with the city or getting paid for contacting the city for one year after joining the private sector.

"If there was any doubt, it's crystal clear" now that the rules apply to pension board members and staffers, said the expert, who requested anonymity. (Reporting by Joan Gralla; Editing by Diane Craft)