Peoria (Ill.) Firemen’s Pension Fund plans to terminate Anchor Capital Advisors as domestic midcap value equity manager, said Patrick Nichting, city treasurer and member of the board for the $125 million pension fund, in an e-mail.
Anchor, which runs $2.4 million in the strategy, is being terminated for performance.
“Public pension funds like ours are under tremendous scrutiny to meet our actuary assumptions and to meet our funds benchmarks. To that end, the board has chosen to seek an index fund that meets those criteria,” Mr. Nichting wrote in the e-mail.
As of May 31, the $125 million pension fund had a 36.7% allocation to domestic equity, according to recent board meeting minutes.
It has not been determined which index fund will replace Anchor.
Robert F. Croce, senior vice president, director of marketing, portfolio manager at Anchor Capital, did not return a telephone call seeking comment by press time.
