Colorado Fire & Police Pension Association, Englewood, hired Baillie Gifford and Rexiter Capital to manage between $20 million and $30 million each in active emerging markets equities, pending contract negotiations, said William Morris, CIO. Funding will come from terminating an emerging markets IFCI index fund managed by State Street Global Advisors and an active emerging markets equity portfolio run by Morgan Stanley, he said. Each portfolio was about $33 million; Mr. Morris would not say why they were terminated. The $2.2 billion pension plan hasnt determined how the remainder of those portfolios will be allocated, he said.
SSgA continues to manage the plans passive S&P 500, S&P BARRA Value and S&P BARRA Growth index funds; Morgan Stanley will continue to manage an active EAFE plus Canada equity portfolio, Mr. Morris said. He would not provide the asset sizes for those portfolios.
Pension Consulting Alliance advised.