Sarasota Switches to Vanguard as Large Cap Equity Manager

The City of Sarasota General Employees’ Retirement has terminated Polen Capital from its large cap equity portfolio, reallocating $14M in assets to Vanguard Russell 1000 Growth Index Fund.

Public minutes from the pension’s December 10, 2024, meeting disclosed that the board approved to liquidate Polen as it was determined to be “providing a lower return with higher risk,” with proceeds to be transferred to the Vanguard fund. General consultant Graystone, which assisted in the discussions, expressed that the pension can maintain the passive management, but it may recommend moving to active management if prolonged negative economic trends emerge.

As of the latest Dakota data, the Florida-based pension fund manages approximately $176M in net assets.

Written By: Dakota

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