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Money Management

Oakland Police & Fire puts Reams on watch

Updated with clarification

Oakland (Calif.) Police & Fire Retirement System put core-plus fixed-income manager Reams Asset Management on watch for organizational changes, recently released board meeting minutes show.

Raymond James Financial announced in April it was acquiring Scout Investments, of which Reams is a division, and merging it into Carillon Tower Advisers.

As of March 31, the pension fund had $22.1 million invested with Reams.

David Sancewich, principal at Pension Consulting Alliance, investment consultant for the $370 million pension fund, could not immediately be reached for additional information.