San Antonio Fire & Police Pension Fund hired New England Pension Consultants to conduct an asset-liability study that will be finished in August, said Warren J. Schott, investment officer. Internal policy requires that the plan conduct one every five years, and it is too early to predict if there will be manager changes, he said. The plan’s asset allocation is 45% domestic equity, 30% fixed income, 15% international equity, 7% private equity and 3% real estate.
Separately, the $1.2 billion plan hired active domestic growth equity managers Goldman Sachs to manage $90 million in large-cap and Waddell & Reed to manage $50 million in small-cap, Mr. Schott said. Goldman Sachs replaces Alliance Capital, which was terminated because of performance concerns and personnel changes. Funding for Waddell & Reed comes from a $40 million portfolio that had been managed in a similar style by Husic Capital, which was terminated several months ago, he said. The remaining funding came from cash. Smith Barney advised.
John Meyers, vice president corporate communications manager at Alliance, did not return a phone call requesting comment by press time.