<!-- Swiftype Variables -->

Pension Funds

Houston Firefighters extinguishes 2 equity strategies

Houston Firefighters' Relief and Retirement Fund terminated The Mitchell Group from a domestic large-cap energy strategy and Mellon Capital Management from a large-cap value equity strategy, said investment committee meeting minutes provided by the $4 billion pension fund.

Reasons for the terminations and how much the pension fund had invested in the strategies could not immediately be learned.

Proceeds will be added to the pension fund's current allocation to Mellon Capital's U.S. dynamic equity strategy; the maximum investment size in the dynamic equity strategy was raised to $120 million from its current limit of $60 million.

Ajit Singh, chief investment officer, could not immediately be reached for additional information.