Austin (Texas) Police Retirement Fund terminated MacKay-Shields...

Austin (Texas) Police Retirement Fund terminated MacKay-Shields because of poor performance and portfolio manager turnover, said Sam Jordan, administrator. The $200 million fund will interview four firms to replace MacKay-Shields in managing the $40 million large-cap equity portfolio. MacKay-Shields officials didn't return calls by press time seeking comment. A decision is expected to be made at the board's Feb. 11 meeting.