Houston Firefighters Relief & Retirement Fund is changing the way it...

Houston Firefighters Relief & Retirement Fund is changing the way it rates managers’ performance, said Danny Bowers, CIO at the $1.6 billion fund. It is in the process of adopting tools to help determine if there are problems with particular managers. The system had been measuring performance by comparing a manager with its peer group on a short-term basis, while the new approach will give each manager its own specific benchmark, using a "five-year rolling Alpha comparison’’ to rate performance.