Dallas Police and Fire Pension System (DPFP) said it has written down its Russian investments to essentially zero, based on current market conditions.
The pension fund maintains a diversified asset allocation, investing domestically and internationally across multiple asset classes through carefully selected investment managers. These investment managers select the individual securities in their respective portfolios.
DPFP said staff is closely monitoring the geopolitical developments in Russia and Ukraine, and it has reviewed all current holdings of investment managers in its portfolio. Of the more than $1.8 billion in investment assets, DPFP had limited exposure to Russia, with $3.7 million, or one-fifth of 1 percent of the portfolio as of Jan. 31. The exposure was limited investments with two large investment managers, Ashmore and Northern Trust.
In other news, Ryan Wagner was promoted from deputy CIO to the more permanent role of CIO of DPP. Wagner had orig
