Arkansas police, fire pension plan adds to portfolios of seven managers
By Kevin Olsen | October 31, 2012 3:10 pm
Arkansas Local Police & Fire Retirement System, Little Rock, made additional investments with seven current managers totaling $42.5 million, according to recently released minutes of the Sept. 7 board meeting.
The $1 billion pension fund added $10 million to State Street Global Advisors; $7.5 million each to Wellington Management and Pacific Investment Management Co.; $5 million each to Barrow, Hanley, Mewhinney & Strauss, Dodge & Cox and Western Asset Management Co.; and $2.5 million to Garcia Hamilton & Associates.
Funding comes from the pension plan's $71.7 million in cash and is intended to provide a greater return on the assets, according to the minutes.
As of Dec. 31, SSgA managed $92 million in domestic large-cap core equity; Wellington managed $116 million in domestic large-cap growth equity; PIMCO, $151 million in international fixed income; Barrow Hanley, $68 million in domestic large-cap value equity; Dodge & Cox, $59 million in domestic large-cap equity; WAMCO, $101 million in aggregate fixed income; and Garcia Hamilton, $52 million in core fixed income.
David Clark, executive director, referred questions to Larry Middleton, the pension fund's consultant at Stephens. Mr. Middleton did not immediately respond to questions.