Pompano Beach Police & Firefighters’ Retirement System has approved terminated mid cap value manager, Nuance.
According to meeting minutes from the December 19 board meeting, Nuance was proposing an increase in fees after the Retirement System moved on from their previous consultant, Graystone. The $230 million retirement system recently hired Southeastern Advisory as the new investment consultant.
The Nuance accounts had a market value of approximately $12 million as of September 30, 2022. Funds will be transferred to an S&P 400 Value Index Fund in the interim.
For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!
