The board in charge of Baltimore City’s police and fire department pension fund is considering firing Legg Mason as its money manager, displeased with what they called consistently poor performance.

The Baltimore-based investment firm was called before the board Tuesday morning to defend its decisions with the Baltimore City Fire and Police Retirement System’s portfolio. Since Legg’s hire just over four years ago, the portfolio’s value has dropped 3.02 percent, according to the firm’s portfolio manager.