Omaha (Neb.) Police and Fire Retirement System hired Invesco to manage about $22 million in a commodities portfolio, said Kyungae Jun, pension accountant, in an email.
The $739 million pension fund conducted a shortlist search. Incumbent manager Schroder Investment Management North America was terminated for performance. Jennifer Manser O’Rourke, Schroders spokeswoman, declined to comment.
The commodities target is 3%; the current actual allocation is 2.8%.
Investment consultant DeMarche Associates assisted.