Arkansas Local Police & Fire Retirement System, Little Rock, hired active international equity managers INVESCO and KBC Asset Management to run $10 million each, and Fisher Investments to manage $5 million, said Larry Middleton, senior vice president of consultant Stevens Inc. The $450 million pension plan partially funded the portfolios by terminating Thomson, Siegel & Walmsley, which managed $15 million in active international equities; the remaining $10 million came from reducing the portfolios of other managers, which were not identified. TSW was terminated for performance, said Mr. Middleton. Officials at TSW did not return calls seeking comment by press time.
The plans current asset allocation is 60% equity, 40% fixed income.