Boca Raton (Fla.) General Employees' Pension Plan committed $2 million to American Funds' EuroPacific Growth Fund, confirmed Debra Sears, CEO of the employees' and police and fire pension funds.
The commitment was funded by reducing an active international equity portfolio managed by Mercator Asset Management to $14 million. Mercator is on watch for performance by the $180 million pension fund.
Separately, the $250 million Boca Raton Police & Firefighters' Retirement System added $3 million to an active domestic fixed-income portfolio managed by Barrow, Hanley, Mewhinney & Strauss, increasing it to $46 million.
Funding comes from reducing an active international equity portfolio managed by Artio Global Investors to $11 million. The firm also is on watch for performance.
By press time, neither Alwyn Taylor, Mercator director, nor Neil Shapiro, Artio spokesman, returned calls seeking comment.