Austin (Texas) Police Retirement Fund postponed a decision on hiring a...

Austin (Texas) Police Retirement Fund postponed a decision on hiring a domestic intermediate fixed-income manager until results of its asset allocation study are presented at the board's Sept. 18 meeting, said Sampson K. Jordan, pension administrator. The $258 million pension plan has narrowed the search to PIMCO and STW Fixed Income Management, he said. The amount of the portfolio will be $10 million to $15 million, depending on the results of the study; plan officials haven't decided whether it will be actively or passively managed, he said. Source of funding has not been determined. The plan's current asset allocation is 40% domestic equity, 25% fixed income, 20% international equity and 15% real estate. Monroe Vos Consulting is conducting the study and advising on the search.