City of Fitchburg (Mass.) Retirement System, with about $52 million in assets, picked INVESCO, MFS, Brandes and Fiduciary Trust Co. International as finalists in the search for its first active international equities manager to run a $2.5 million portfolio.
Money for the new manager will come from Safety Fund National Bank, the fund's only manager, which runs all of the assets in a balanced fund. Segal Advisors is assisting. The fund is expected to make its selection at its May 26 board meeting.