Chicago Policemen's Annuity and Benefit Fund hired Taplin, Canida & Habacht to run $50 million in active domestic core fixed income and LM Capital Group to manage $25 million in core-plus fixed income, confirmed John Gallagher Jr., executive director. Core-plus is a new allocation for the $3.9 billion pension fund. Taplin replaced Holland Capital Management, which was terminated because of performance, according to a news release from the fund. Allison Grant Williams, Holland's client service and marketing director, was not available for comment at press time.
Additional funding for the new mandate will come from rebalancing the fund's $36 million foreign equity portfolio. No managers will be terminated.
Ennis Knupp assisted with the search, which was conducted internally, Mr. Gallagher said.
