St. Louis Firefighters’ Retirement Plan will search for its first active money managers in 2015, said Janice Fairless, human resources specialist for the pension fund.
The $20 million pension fund, which was created Feb. 1, 2013, the same day that benefit accruals were frozen in the $445 million St. Louis Firemen’s Retirement System, currently has its assets parked in two Vanguard Group index mutual funds.
The pension fund has about $12 million, or 60% of its assets, in an international equity fund and $8 million, or 40%, in a domestic fixed-income fund.
Ms. Fairless said the pension fund plans to issue an RFP shortly after Jan. 1 for two active domestic fixed-income managers to run a total of 40% of the portfolio.
Another RFP will be issued later in the year for equity managers to run the 60% of the portfolio; Ms. Fairless said the specific type of equity managers that will be sought is pending an asset allocation study.
Investment consultant Dahab Associates is assisting.
