Springfield (Mo.) Police Officers' & Firefighters' Retirement System is conducting an invitation-only search for an active emerging markets debt manager to run about $11 million, confirmed Janell Manley, administrative director.
The search is the result of an asset allocation approved by the $226 million pension fund's board in November 2011, which includes a first-time 5% allocation to emerging markets debt.
Funding will likely come from equities, but no managers will be terminated, said Ms. Manley in a telephone interview.
Finalists will be selected at the pension fund's Jan. 25 board meeting, with interviews and a selection likely in February or March.