San Antonio Fire & Police Pension Fund placed Goldman Sachs on its watchlist for performance of a $100 million active domestic large-cap growth equity portfolio benchmarked to the Russell 1000 Growth index. According to minutes of the Nov. 15 meeting of the $1.7 billion fund's investment committee, one of the fund's investment consultants, Robert Longfield of Consulting Services Group, visited Goldman and came out of the meeting "more optimistic" about the firm's ability to produce "meaningful" results, but he still recommended Goldman be put on watch.
Goldman Sachs officials were not available to comment by press time.
In addition, fund officials plan add a currency hedge fund manager and an emerging markets debt manager, according to A.C. Berry, investment analyst at the fund. No decision has been made on how the searches will be conducted. Managers will be funded when market conditions warrant putting money into those asset classes.