Miami Beach General Employees Retirement System, Miami Beach, Fla., increased to $80 million from $50 million its allocation to an S&P 500 index portfolio managed by RhumbLine Advisers.
Margaret Arculeo, pension administrator for the fund, said the additional $30 million came from a midcap equity portfolio managed by Cadence Capital, but gave no specific reason for the change. Cadence continues to manage a small-cap equity portfolio for Miami's $234 million defined benefit plan.
