San Jose Police & Fire snare 3 to manage combined $135 million in GTAA
By Kevin Olsen | November 14, 2012 3:18 pm
San Jose (Calif.) Police & Fire Department Retirement Plan hired Pacific Investment Management Co.; Grantham, Mayo, Van Otterloo; and Standard Life Investments to each run $45 million in global tactical asset allocation strategies, confirmed Ron Kumar, financial analyst for the $2.8 billion pension fund.
The selected funds are the PIMCO All Asset All Authority, GMO Benchmark-Free Allocation and Standard Life Global Absolute Return Strategy GTAA.
The board approved a 5% allocation to global tactical asset allocation strategies in August. Investment consultant NEPC assisted.
Separately, the pension fund hired Artisan Partners Asset Management to run $100 million in global equity — $50 million each in Artisan Global Opportunities and Artisan Global Value funds.
Funding for all hirings comes from rebalancing.