Milwaukee Employes' Retirement System hired Dimensional Fund Advisors to manage $130 million in an active small-cap value portfolio, said Patrick Cronin, financial manager for the $2.7 billion fund.
Board members also selected a manager to take over an immunized bond portfolio of more than $300 million from Firstar Investment Research & Management, but Mr. Cronin declined to name the firm until contracts are signed.
In addition, Milwaukee funded accounts run by BZW Barclays for a $400 million enhanced value equity index portfolio and Sanford Bernstein for $150 million in large-cap value, he said.
The hires are being funded by assets parked since last year in an S&P 500 Index fund managed by Northern Trust.
Asset Strategy Consulting assisted.
