Ohio Police & Fire Pension Fund, Columbus, this week assigned target allocations to its new international small-cap equity managers, confirmed spokesman David Graham.
The $11.6 billion fund in August hired Franklin Templeton, Pyramis GlobalTempleton, Pyramis Global Advisors and Dimensional as new international small-cap equity managers, partially funded by the termination of Acadian Asset Management, which ran $585 million in all-cap equities, as a result of a change in the fund's international equity allocation to include small cap.
Within the fund's total international equity allocation, the targets for the new small cap portfolios will be Dimensional, $340 million; Franklin Templeton, $310 million; and Pyramis, $204Templeton, $310 million; and Pyramis, $204 million.
The target allocations of the fund's current managers within the fund's international equity allocation remain unchanged: Thornburg Investment Management, at $1 billion; Pyramis (existing growth portfolio), $765 million; and Causeway Capital Management, $765 million.
The total target allocation for international equities is 29%, or $3.4 billion.
Separately, the fund this week kept EARNEST Partners, which runs $348 million in active domestic midcap core equities, on its watchlist for performance. EARNEST spokeswoman Katie Driver did not return a phone call for comment by press time.