Jupiter (Fla.) Police Officers Retirement Fund hired Sawgrass Asset Management to run a core fixed-income portfolio and Private Capital to handle core equities, said Nick Scopelitis, chairman of the $10 million system. Each firm will manage $4 million. The system is also negotiating with a real estate equity manager to run a $1 million portfolio and an international equity manager to run $1 million; neither Mr. Scopelitis nor Burgess Chambers, consultant with Burgess Chambers & Associates, would name the managers.
Funding came from terminating INVESCO-National Asset Management, which ran all the plans assets, for performance and due to a change in the systems asset allocation policy, said Mr. Scopelitis. INVESCO-NAM declined to comment, said Bill Hensel, INVESCO spokesman.