Chicago Policemen's pension fund picks international equity finalists

Chicago Policemen's Annuity & Benefit Fund trustees finalized the rosters of two outstanding international equity manager searches for the $3.04 billion pension fund during a board meeting Thursday, confirmed Samuel Kunz, chief investment officer, in an e-mail.

Acadian Asset Management, AQR Capital Management, Franklin Resources and Kabouter Management will make presentations for a $120 million active non-U.S. small-cap equity allocation at the Feb. 26 meeting of the pension fund's investment committee.

For a $180 million allocation to active emerging markets equity, EARNEST Partners, Eaton Vance (EV) Management (EV), Glovista Investments, Lazard Asset Management and Neuberger Berman, will make presentations at the investment committee's March 22 meeting.

The number of managers that will be hired for each allocation has not been determined, Mr. Kunz said.

Separately, the pension fund's one-year, gross-of-fees return as of Dec. 31 was an estimated 14.18%, Mr. Kunz said.