Arkansas Local Police & Fire Retirement System, Little Rock, hired PIMCO and Western Asset Management to manage $75 million each in active domestic core fixed income, pending contract negotiations, said Cathyrn Hinshaw, executive director.
The $450 million plan will fund the hires by terminating Thompson, Siegel & Walmsley, which ran a $150 million active international equity portfolio, for performance. Officials at Thompson Siegel did not return calls seeking comment by press time.
The plans asset allocation is 60% fixed income and 40% equity. Stephens Inc. advised.