Pasadena (Calif.) Fire and Police Retirement System hired five managers, replacing Ark Asset Management, which ran all of the fund’s $150 million in assets in a balanced portfolio, said Mary O’Neil, administrator. They are: Metropolitan West Asset Management, $60 million, active domestic fixed income; Turner Investment Partners, $26 million, and MacKay-Shields, $17.6 million, active domestic large-cap growth equities; Dodge & Cox, $29.4 million, active domestic large-cap value equities; and Bank of Ireland Asset Management, $15 million, active international equities, Ms. O’Neil said. The moves are the result of recent asset allocation and liability studies presented to the board by Mercer in January.
The fund hired Public Pension Professionals as actuary, replacing Buck Consultants, which declined to rebid, Ms. O’Neil said.
