West Palm Beach (Fla.) Firefighters’ Pension Fund hired BlackRock and Westwood Management to run $4.5 million each in global tactical asset allocation portfolios, said Audrey Ross, plan administrator at third-party administrator Pension Resource Center, in an e-mail.
The $186 million pension fund funded the new allocation by reducing active domestic core fixed-income manager Dodge & Cox’s portfolio, leaving it with $9 million.
Investment consultant The Bogdahn Group assisted.
