El Paso (Texas) City Employees’ Pension Fund is considering moving to a global real estate investment trust portfolio from its current $23 million domestic portfolio to improve diversification, said Robert Ash, executive director of the $723 million pension fund, in an e-mail.
Discussions are still preliminary but could resurface at the Feb. 18 board meeting, Mr. Ash wrote. No actions have been taken at this time.
It has not been determined whether the size of the REIT portfolio would increase or whether any existing managers would be terminated under the changes. Any new searches for new managers would be handled by the pension fund’s investment consultant, Callan Associates, Mr. Ash wrote.