Northern Trust Global Investments (NTGI) and Attucks Asset Management will no longer manage Chicago Policemen’s Annuity & Benefit Fund mandates, Pensions & Investments reports. The passive managers were removed to fund the appointments of global tactical asset allocation managers Pacific Investment Management Co. (Pimco) and Grantham Mayo Van Otterloo (GMO) in August.
The amount each manager will be awarded has not been decided yet. The $192 million mandate managed by NTGI will be moved to the Dow Jones Total Return indexed commingled fund. The $3 billion fund will also move the $82 million that Attucks managed in an S&P 500 indexed separate account to Pimco and GMO.
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