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Investment committee places one active US small/mid-cap manager on watch; TA Realty funded $15 million
Summary
Kellen LLC presented April and quarter-end performance analysis; the investment committee placed an active small/mid-cap US manager on watch (AB) and the trust funded a $15,000,000 initial subscription to TA Realty to restore real estate allocation.
Kellen LLC reported to the City of El Paso Employees Retirement Trust on April performance and the quarter ended March 2025, and the board’s investment committee summarized several recent portfolio decisions.
Kellen representatives told trustees that markets were volatile in April following tariff announcements that produced a sharp correction and subsequent rebound. The firm said international equities have been a notable diversification benefit year to date, while certain US small- and mid-cap…
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