Anchorage (Alaska) Police & Fire Retirement System hired Putnam to manage $30 million in active domestic international large-cap to midcap core commingled equities. Funding came from rebalancing other portfolios, said Charles Laird, director of the $420 million system. The new allocation complements the plan’s $32 million in commingled active international value equities, managed by Morgan Stanley Dean Witter, he said.
The system also consolidated its active domestic fixed-income investments, Mr. Laird said. Columbia Management’s portfolio was increased to $140 million, from $100 million. Funding comes from terminating Standish Ayer & Wood, which managed $40 million in active domestic fixed income. The system decided to consolidate the funds because it has been with Columbia longer than Standish Ayer & Wood and is pleased with the manager’s performance, he said.
