Tallahassee (Fla.) City Employees' Pension Fund hired State Street Global Advisors to manage an enhanced S&P 500 index fund, said Jim Cooke, deputy city treasurer-clerk. Officials at the $860 million plan will determine the size of the investment "in the next month or so" with the assistance of consultant Segal Advisors, Mr. Cooke said. Funding will come from reducing a $148 million passive S&P 500 index fund managed by Barclays Global Investors. INTECH, Goldman Sachs and BGI were also finalists in the shortlist search.
The pension fund's asset allocation is 39% domestic equity, 39% domestic fixed income 10% international equity, 7% real estate and 5% cash.