The Pensacola (Fla.) General Pension & Retirement Fund invested $4.5 million each in three international equity mutual funds: Templeton Foreign, Putnam International Growth and American Funds EuroPacific Growth fund, said Cheryl Jackson, administrative officer IV. The $92 million plan funded the investments by terminating Trusco Capital, which ran the money in its STI Classic International Equity Index fund, for performance, she said. Trusco still manages the remaining plan assets in a variety of fixed-income and domestic equity mutual funds and separate accounts.
Chad Deakins, Trusco vice president, said he believed that the plan wanted more manager diversification and active management on its international equity allocation.
Merrill Lynch Consulting Services assisted.