Laredo (Texas) Firefighters' Retirement System terminated Bahl & Gaynor as an active domestic large-cap equity manager because of performance, said Jaime Jasso, administrator of the $117.4 million pension fund, in an e-mail.
The pension fund had $9 million invested in the strategy. A Bahl & Gaynor official could not immediately be reached for comment.
The assets will be invested temporarily in a BlackRock iShares S&P 100 strategy. Discussions on a search for a permanent replacement manager are pending.