Davie Police Officers’ Pension Plan, Sunrise, Fla., hired Loomis, Sayles & Co. to run a $20 million active core fixed-income portfolio.
The $232 million pension fund’s board approved the hiring at its Sept. 30 meeting, recently released meeting minutes showed.
The pension fund had issued a request for proposals in May from managers with strategies benchmarked to the Bloomberg U.S. Aggregate Bond index. The funding source for the portfolio was not disclosed.
C.S. McKee and Richmond Capital Management were the other finalists.
As of Sept. 30, the pension fund’s actual allocation to fixed income was 17.2%.
Kevin Condy, director of research at investment consultant Dahab Associates, which assisted with the search, could not be immediately reached for further information.
