Austin (Texas) Police Retirement System hired PIMCO to run $15 million in active domestic low-duration fixed income, said Sampson Jordan, pension administrator. Funding came from reducing three active equity portfolios by $5 million each: Brandes now runs $30 million in international value; Nicholas-Applegate, $25 million in domestic large-cap value; and Davis Hamilton Jackson, $15 million in domestic large-cap growth. PIMCO already runs $18 million in active domestic medium-duration bonds for the plan.
The plan's asset allocation is 40% fixed income, 35% equity, 15% real estate and 10% cash. Monroe Vos Consulting Group is assisting.