El Paso (Texas) Firemen & Policemens Pension Fund at the end of April will conduct a shortlist search for an active domestic small-cap growth equity manager to run $20 million to $25 million, said Robert Stanton, pension administrator. The $435 million system has no managers in the asset class. The plans board will determine the exact amount of the portfolio at its April 17 meeting, when the results of an asset-liability study are reviewed, he said. Consultant Summit Strategies will present up to 10 managers at another meeting in late April, he said. Funding will probably come from rebalancing, and no terminations are expected, he said.
The plans asset allocation is 60% equity and 40% fixed income.