Colorado Fire & Police Pension Association, Englewood, committed $20 million each to the RREEF America II Fund and J.P. Morgan Flemings Strategic Property Fund, said William Morris, CIO. He said funding came from liquidating $40 million in a core portfolio managed by PMRealty.
Separately, the $2.3 billion pension plan terminated an $85 million enhanced S&P 500 index fund run by J.P. Morgan Fleming; the termination was for performance and because plan officials wanted a more active approach, Mr. Morris said. The money will be parked in a $398 million S&P 500 index fund run by State Street Global Advisors until plan officials conclude a review of the plans domestic equity allocations in July, he said. It is too early to predict any other changes in investment managers, he said.
A spokeswoman for J.P. Morgan Fleming, who did not want to be identified, declined comment.
Pension Consulting Alliance advised.