The Firemen's Retirement System of St. Louis hired Aberdeen Asset Management to manage a domestic core fixed-income portfolio, according to Vicky Grass, executive director of the $420 million plan. She did not have details on the amount of the portfolio or the source of funding.
The allocation was added for diversification, and no managers were terminated, Ms. Grass said.
Consultant Dan Holmes with Summit Strategies was not available for comment at press time. Summit conducted an invitation-only search on behalf of the plan in June.