Rhode Island Retirement System, Providence, named six finalists in its emerging markets manager search, said Steve Klamkin, spokesman for the $4.4 billion fund. Selected were: Govett Asset Management, Montgomery Asset Management, Morgan Grenfell Investment Services, Morgan Stanley Asset Management, Schroder Capital Management International and State Street Global.
The $89 million mandate will be the fund's first emerging markets portfolio. A decision is expected by January. Wilshire Associates is assisting. The fund has been rebalancing its asset allocation, which includes a $5 million private placement allocation as part of its alternative investments and the addition of convertibles and high-yield bonds in its fixed-income portfolio.