SEARCHES AND HIRES

Miramar Firefighters’ Pension Fund seeks passive managers

Miramar (Fla.) Firefighters’ Pension Fund is searching for a passive equity manager to run a total of $25 million in various styles, said William E. Dahab, principal and director of research at Dahab Associates, investment consultant for the $125 million pension fund.

The pension fund issued an RFP for a single manager to run passive large-cap, midcap and small-cap domestic equity index funds and an international equity index fund. A funding source has yet to be available.

As of Sept. 30, 2016, according to the most recent available investment report on the website of third-party administrator The Resource Centers, current equity managers were: Polen Capital Management, which ran $17 million in domestic large-cap growth equities; Northern Trust Asset Management, $16 million in domestic large-cap core equities, $8 million in international equities and $5 million in domestic smidcap equities; Herndon Capital Management, $13 million in domestic large-cap value equities; LMCG Investments, $9 million in domestic midcap equities; PNC Capital Advisors, $5 million in domestic small-cap growth equities; Parametric Portfolio Associates, $4 million in emerging markets equities; and Dimensional Fund Advisors, $3 million in domestic small-cap core equities.

Proposals are due at 5 p.m. EDT on July 26. A timetable for a decision has yet to be determined.

The RFP is available on Dahab’s website.