By Muskan Arora
The $1.3B Chicago Firemen’s Annuity &
Benefit Fund has placed Highclere International Investors on watchlist, as
revealed in its recently released February minutes.
Highclere manages $25M active international
small cap equity portfolio on behalf of the investor.
The investment staff with the consultant Callan placed the
manager on the watchlist due to “performance issues” as highlighted in the
meeting materials.
The pension plan also removed
Brown Capital Management from its watchlist. The manager is responsible for
$25M in active international small-cap equities for the plan.
Brown was first put on a watchlist in October
2023, as the fund had decided to monitor its reorganizational plan.
Both these managers were hired in May 2020
by the plan.
The pension plan allocates 22.8% to its
global ex-US equities against a target allocation of 24%, as of December 31.
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