Iowa Public Employees' Retirement System, Des Moines, is keeping INVESCO Realty Advisors as manager of $225 million in a real estate separate account, said Michael L. Fitzgerald, state treasurer and a member of the $15.8 billion system's investment board. "Wilshire explained real estate is a totally separate operation," Mr. Fitzgerald said. "There is nothing affecting Iowa that was at risk or handled improperly. Performance has been good." Wilshire is the system's consultant.
Separately, Chicago Firemen's Annuity & Benefit Fund will discuss its relationship with international equity manager INVESCO Global at an investment committee meeting Dec. 15, said Michael Moran, comptroller. INVESCO runs a $25 million international core portfolio for the $1 billion plan, Mr. Moran said. The meeting follows the filing of market-timing lawsuits against the firm's sister business, INVESCO Funds Group, he said. He would not speculate on the outcome of the meeting. Mercer Investment Consulting will assist. Bill Hensel, spokesman for INVESCO parent, AMVESCAP, declined to comment.