Fort Lauderdale (Fla.) Police & Fire Retirement System hired INTECH to run $34 million in an enhanced S&P 500 index fund, said Lynn Wenguer, pension administrator. INTECH replaced INVESCO Institutional, which ran a similar portfolio for the $380 million plan; trustees made the move because of performance, she said. Asset Consulting Group assisted.
"We understand and appreciate our client's decision. For the 15 months we managed the account, performance was within 4 basis points of its benchmark, the S&P 500," said Bill Hensel, spokesman for INVESCO parent AMVESCAP.
