Fort Lauderdale General Employees Retirement System, Florida, hired Hansberger Global Investors and Schroder Capital Management to split about $5 million for emerging market mutual funds.
The board of the $192 million fund made its decision at a meeting yesterday. Scudder, Stevens and Clark was the only other finalist, said Dorothy Holt, pension administrator. The source of the funding has yet to be determined. The board will be discussing rebalancing the fund's allocation at next month's meeting, because of a 65% cap on domestic equity investments. No additional hires are expected. Dahab and Associates is assisting.