Houston Firefighters' Relief & Retirement Fund has narrowed its search for an active emerging market equity manager to 10 candidates, said Danny J. Bowers Jr., CIO. The search should be concluded by the end of November. The $50 million allocation will come from cash.
The $1.49 billion fund is ``looking for higher returns from alternative investments and emerging markets'' following a recently completed asset allocation study, Mr. Bowers said. He added that Houston Firefighters has a few million dollars in emerging market equities as part of an EAFE portfolio.