San Antonio Fire & Police Eliminates Emerging Market Equities

According to minutes from the March 18th Board meeting, The San Antonio Fire & Police Pension Fund has approved eliminating the 6% target to emerging markets equity.

As a result, two of the pension funds’ existing emerging markets managers were terminated which include FIAM Concentrated Emerging Markets Fund and the WCM Focused Emerging Markets Fund.

$140 million will be reallocated among six existing managers, $25 million to William Blair Growth Small Cap Growth, $25 million to Cooke & Bieler SMID Cap Value, $25 million to WCM Focused Growth International, $20 million to William Blair International Leaders, $25 million to Victory Trivalent, and $25 million to EAM International Small Cap.

The policy targets for U.S. Small/Mid cap equity will increase by 2%, non-U.S. developed equity will increase by 1%, non-U.S. developed small cap equity will increase by 1%, and private equity will increase by 1%.

As of January 31, 2024, the Pension Fund has a market value of $3.9 billion.

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