Laredo (Texas) Firefighters' Retirement System is redeeming its $5.9 million investment in Loomis Sayles' senior loan fund, said recently released board meeting minutes.
A reason for the redemption was not provided.
Assets will be transferred to existing core bond manager J.P. Morgan Asset Management. JPMAM's new allocation size could not immediately be learned.
Jaime Jasso, administrator of the $123.6 million pension fund, could not be reached for additional information by press time.