San Antonio Fire and Police Pension Fund hired MetLife to manage a $90 million enhanced guaranteed indexed fixed-income portfolio. The $1 billion pension fund will use one of MetLifes INDEX TRACK funds, managed by Loomis Sayles and guaranteed by MetLife. The money was in an indexed domestic fixed-income portfolio run by Mitchell Hutchins. The move was made to gain additional returns that were guaranteed, said Warren Schott, investment officer of the pension fund. Mitchell Hutchins continues to manage $140 million in a Russell 1000 value index fund.
United Food and Commercial Workers, Southern California Locals, Los Angeles, hired Dodge & Cox to manage $84 million in large-cap value and Aeltus to handle $56 million in core equity. They replace Oppenheimer Capital, which ran $140 million for the $420 million defined benefit plan. Oppenheimer was terminated earlier this month for performance, said Robert Williams, administrator. Officials at Oppenheimer did not respond by press time.