Integrations
Services
Company
FUNDRAISING NEWS | February 07, 2025
The Employees’ Retirement Fund (ERF) of the City of Dallas has decreased its allocation to global equity manager Ariel Investments and terminated Western Asset Management from its fixed income roster.
Per recently published materials from its December 10, 2024, board meeting, the pension moved to reduce its Ariel Global Fund allocation from $94M to $40M within the global equity composite. Staff and general consultant Wilshire recommended the cut during the pension’s September 9, 2024, board session due to fund underperformance and “significant organizational change” within Ariel.
Additionally, Dallas ERF also approved a motion to terminate Western Asset as fixed income manager within its portfolio due to the firm’s structural overhaul, following SEC investigation on past trade activity related to former WAM trader and co-CIO Ken Leech. With the termination, the pension reallocated $200M in assets from the WAM account to the Northern Trust Aggregate Bond Index within its fixed income mix.
As of September 30, 2024, Dallas ERF managed approximately $3.8B in total assets, with global equity accounting for 5.2% of the portfolio against a 5% target, and fixed income accounting for 15.8% against a 17.5% target.
Written By: Dakota
September 18, 2024
January 09, 2025
January 09, 2025
925 West Lancaster Ave
Suite 220
Bryn Mawr, PA 19010
Tel: (610) 642-1481
© Dakota 2025 | Terms of Use | Privacy Policy | California Privacy Policy